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Revising Fiscal Policy and Growth in Saudi Arabia

Author

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  • Janelle Mann

    (Department of Economics, University of Manitoba, Canada)

  • Peter Sephton

Abstract

This article empirically investigates how private investment and different categories of public expenditure (defense, education, health care, and housing) impact real non-oil GDP in Saudi Arabia. The econometric analysis couples unit root, stationarity, and cointegration analysis with vector error correction models. Impulse response functions are applied to examine the impacts of different shocks to the system. We find that public expenditures on health care and defense have decreased real non-oil GDP while public expenditure on education and housing have very little impact. Interestingly, public expenditures on health crowds-out private investment.

Suggested Citation

  • Janelle Mann & Peter Sephton, 2015. "Revising Fiscal Policy and Growth in Saudi Arabia," Journal of Reviews on Global Economics, Lifescience Global, vol. 4, pages 139-146.
    • Handle: RePEc:lif:jrgelg:v:4:y:2015:p:139-146
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    File URL: http://www.lifescienceglobal.com/independent-journals/journal-of-reviews-on-global-economics/volume-4/85-abstract/jrge/1693-abstract-revising-fiscal-policy-and-growth-in-saudi-arabia
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    Cited by:

    1. Abid, Mehdi & Alotaibi, Mohammed Naif, 2020. "Crude oil price and private sector of Saudi Arabia: Do globalization and financial development matter? New evidence from combined cointegration test," Resources Policy, Elsevier, vol. 69(C).

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