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Revisit the role of governance indicators to achieve sustainable economic growth of Saudi Arabia – pre and post implementation of 2030 Vision

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  • Aziz, Ghazala
  • Sarwar, Suleman

Abstract

The study's goal is to explore and scrutinize the role of governance in achieving, manipulating, and modifying sustainable economic growth in Saudi Arabia. It also highlight the role of governance measures prior and after Vision 2030, by using ARDL and dynamic ARDL simulated econometric approaches. On contrary to the existing literature, the empirical estimations have reported the adverse impact of governance effectiveness on economic growth. Further, the findings have endorsed the significant and positive impact of voice of accountability, rule of law and corruption control. Moreover, the results of post Vision 2030 have illustrated that institutional dimension of governance has substantial and positive coefficients, while political stability and governance effectiveness need to be addressed to undertake sustainable economic growth in Saudi Arabia. In turn of policy recommendations, this study empowers administration in monitoring current strategies and later decision-making.

Suggested Citation

  • Aziz, Ghazala & Sarwar, Suleman, 2023. "Revisit the role of governance indicators to achieve sustainable economic growth of Saudi Arabia – pre and post implementation of 2030 Vision," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 213-227.
    • Handle: RePEc:eee:streco:v:66:y:2023:i:c:p:213-227
    DOI: 10.1016/j.strueco.2023.04.008
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    More about this item

    Keywords

    Sustainable economic growth; Governance; Saudi Arabia; Dynamic ARDL;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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