The impact of non-oil exports on economic growth in Saudi Arabia
DOI:
https://doi.org/10.53983/ijmds.v9i1.366Keywords:
Non-Oil exports, economic growth, GDP, ARDL, Co-integrationAbstract
This research aims to measure non-oil exports' impact on economic growth in
Saudi Arabia (1970-2018). The data published in the annual reports of the Saudi Arabian
Monetary Authority (SAMA) was used. They were using the standard approach through the
ARDL model to determine the impact of each of the non-oil exports, consumer spending, and
government spending on economic growth represented by the GDP. The results showed
there is a Co-integration relationship between the variables, and this means the existence of
a long-run equilibrium relationship. The results also revealed a positive and significant
impact of non-oil exports on economic growth in Saudi Arabia. The time series is not static at
the level. At the same time, it is static and does not contain the root of the unit when taking
the first difference for it at the level of significance (5%) except for consumer spending,
which is static when taking the second difference.