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Contribution of oil in economic growth of Saudi Arabia/ created by Khalid A. Alkhathlan

By: Material type: TextTextSeries: Applied economics letters ; Volume 20, number 4New York: Taylor and Francis, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 13504851
Subject(s): LOC classification:
  • HB1.A666 APP
Online resources: Abstract: This article examines the relationship between oil production and economic growth based on time-series data of Saudi Arabia from 1971 to 2010, and the Autoregressive Distributed Lag (ARDL) model approach for cointegration has been used. The innovative contribution of this study is to determine long-run relationship between oil production and economic growth by disaggregating oil production into domestic consumption of oil in industrial sector and revenues earned from export of oil. Results show that oil revenues have a strong positive impact on real Gross Domestic Product (GDP) in both the short and the long runs, and this positive relationship holds for different specification of the model. Domestic consumption of oil in industrial sector has negative impact on GDP in both the short and the long runs.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB1.A666 APP (Browse shelf(Opens below)) Vol. 20, no.4 (pages 343-348) SP17976 Not for loan For in house use only

This article examines the relationship between oil production and economic growth based on time-series data of Saudi Arabia from 1971 to 2010, and the Autoregressive Distributed Lag (ARDL) model approach for cointegration has been used. The innovative contribution of this study is to determine long-run relationship between oil production and economic growth by disaggregating oil production into domestic consumption of oil in industrial sector and revenues earned from export of oil. Results show that oil revenues have a strong positive impact on real Gross Domestic Product (GDP) in both the short and the long runs, and this positive relationship holds for different specification of the model. Domestic consumption of oil in industrial sector has negative impact on GDP in both the short and the long runs.

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