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Volume :34 Issue : 129 2008      Add To Cart                                                                    Download

Non-Oil Export Growth and Economic Development in Saudi Arabia: A Simultaneous Equations Approach

Auther : Dr. Mohammed A. AlJarrah

     Since the evolution of neoclassical growth models in the 1950s and 1960s, many empirical studies have attempted to examine the effects of trade on growth in developing as well as developed countries. Most of these studies have followed a similar approach that is based on a single equation estimation which relates the exogenous variable exports with the endogenous variable economic growth. This study, however, uses a simultaneous equation approach to examine the relationship between economic development and non-oil export performance in Saudi Arabia. Results of three-stage least squares tests lend support to the evidence of positive effect of non-oil exports on economic development in Saudi Arabia. The study finds also that growth of non-oil exports has a positive impact on investment and production in the Kingdom.

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May 18, 2017

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