Download or read book The impact of government expenditure on non oil GDP in Saudi Arabia written by Gabby Ian and published by GRIN Verlag. This book was released on 2022-06-20 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2022 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, The Florida State University, language: English, abstract: Government expenditure refers to the money the public sector or the government spends on providing services such as education and the acquisition of essential goods and services. It entails interest payments, transfer payments, and government consumption categories. In this connection, the government has been developing policies that will make the economy more diversified and thus more stable. The policies aim to strengthen other sectors of the economy to make them profitable enough to contribute to its exports. The government of Saudi Arabia has been formulating and implementing favorable policies that will attract investors and create manufacturing firms in the country. The non-oil industry has not been taking part in developing the country's economy. The impact of other industries on the economy has not been felt as it should have. According to World Bank statistics from 2011 to 2013, the country's economic performance has been going down to fluctuating prices for oil in the world market. Other sectors in the industry have not been active enough to protect the nation's Gross Domestic Product from going down, as they are not well established. According to World Bank Information, the growth rate of Saudi Arabia from 2002 to 2013 has not been steady. The economy's stability depends on the value of products from Saudi Arabia in the international market. The country has had to invest more in its local manufacturing industries to guarantee stable economic growth. One sector the country has invested in to ensure the non-oil industry makes a significant contribution to the growth and development of the economy is encouraging entrepreneurs to set up non-oil commercial activities. Industrialists will help diversify the industry; in the process, more revenue will be generated, which will be used to develop the economy. The value of non-oil products has been increasing as entrepreneurs invest more in the industry, intending to produce high-quality goods that can compete with goods from other countries in the world market. Entrepreneurs are drivers of innovation, which will transform the economy, making it more vibrant, just like developed nations' economies. In this regard, this paper examines the impact of government expenditure on non-oil GDP in Saudi Arabia.
Download or read book Economic Growth and Government Spending in Saudi Arabia written by Mr.Saad A. Alshahrani and published by International Monetary Fund. This book was released on 2014-01-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines the effects of different types of government expenditures, on economic growth in Saudi Arabia. We use different econometric techniques to estimate the short- and long-run effects of these expenditures on growth and employ annual data over the period 1969-2010. Our findings indicate that while private domestic and public investments, as well as healthcare expenditure, stimulate growth in the long-run, openness to trade and spending in the housing sector can also boost short-run production. These findings draw some policy implications for Saudi policymakers on maximizing the returns of the government spending on economic growth.
Download or read book Economic Development in Saudi Arabia written by Robert E. Looney and published by . This book was released on 1990 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impact of the Oil Sector on the Development of the Non oil Economy of Saudi Arabia written by Fahad Saad Aldoasary and published by . This book was released on 1983 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Adjustment in the Gulf Countries Less Costly than Previously Thought written by Mr.Armand Fouejieu and published by International Monetary Fund. This book was released on 2018-06-13 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
Download or read book A Guide to the Saudi Arabian Economy written by John R. Presley and published by Springer. This book was released on 2017-01-10 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of the changes that have taken place in the various sectors of the economy and the factors that currently influence economic development and policy in Saudi Arabia. The effects of the changes in oil revenues on the economy and the Kingdom's development strategy are discussed.
Download or read book Saudi Arabia written by Mr.Ahmed Al-Darwish and published by International Monetary Fund. This book was released on 2015-03-17 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saudi Arabia: Tackling Emerging Economic Challenges to Sustain Strong Growth
Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2018-08-24 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues
Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2015-10-15 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper assesses the importance of oil and interest rate spillovers for Saudi Arabia. Oil prices have fallen by more than 40 percent since mid-2014 while the Federal Reserve is expected in the coming months to begin raising its policy rate at the beginning of a gradual tightening cycle. Given the importance of oil to the economy and the peg of the riyal to the U.S. dollar, these are two key developments for Saudi Arabia. Although a temporary drop in oil prices would likely have little effect on the economy and banks given the financial cushions that have been built-up, a longer-lasting period of low oil prices would have a more significant impact.
Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-09-09 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Saudi Arabia discusses that reforms are starting to yield positive results. Oil prices and production have been volatile, and uncertainties in the global oil market continue. Promoting non-oil growth and creating jobs for Saudi nationals remain key challenges. Non-oil growth is expected to strengthen further this year and over the medium term. Risks to the growth outlook are broadly balanced. The fiscal deficit declined in 2018; however, higher government spending has increased medium-term fiscal vulnerabilities to a decline in oil prices. Fiscal consolidation is needed to reduce these vulnerabilities. The fiscal framework should be further strengthened to help reduce the procyclicality of government spending. Reforms to improve the business environment are proceeding but need to be complemented by efforts to increase the cost competitiveness of Saudi labor. Government support to develop sectors of the economy should crowd in the private sector and be timebound and linked to performance.
Download or read book Saudi Government Revenues and Expenditures written by A. Aldukheil and published by Springer. This book was released on 2013-11-11 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Will history repeat itself, leaving Saudi Arabia to face another financial crisis due to drastic overspending and/or a dramatic drop in oil revenue? If the situation remains on its current trajectory, by 2030 government debt due to rising expenditures over revenues will be too overwhelming for the government to cope with.
Download or read book Foreign Economic Trends and Their Implications for the United States written by and published by . This book was released on 1986 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saudi Arabia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-09-09 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper explores policies to drive diversification for Saudi Arabia. Diversification is needed to create jobs for Saudis and to mitigate the impact of uncertainty in oil markets. Although the business climate should be improved, and remaining infrastructure gaps addressed, reforms need to go beyond these areas. Diversification in Saudi Arabia that creates jobs for nationals could be held back by the effects of relatively high wages and their impact on cost competitiveness. Creative solutions are needed to address the impact of high government wages and employment on competitiveness. Industrial policy could help overcome the incentives that encourage companies to focus on the nontradable sector, but should be handled carefully, keeping lessons from other countries’ experiences in mind. Export orientation and competition are crucial mechanisms to ensure discipline. Strengthening human capital to raise productivity and provide workers with the skills needed in the private sector will be essential to success.
Download or read book How Strong are Fiscal Multipliers in the GCC written by Mr.Raphael A. Espinoza and published by International Monetary Fund. This book was released on 2011-03-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effectiveness of fiscal policy in smoothing the impact of shocks depends critically on the size of fiscal multipliers. This is particularly relevant for the GCC countries given the need for fiscal policy to cushion the economy from large terms of trade shocks in the absence of an independent monetary policy and where fiscal multipliers could be weak dues to substantial leakages through remittances and imports. The paper provides estimates of the size of fiscal multipliers using a variety of models. The focus is on government spending since tax revenues are small. The long-run multiplier estimates vary in the 0.3-0.7 range for current expenditure and 0.6-1.1 for capital spending, depending on the particular specification and estimation method chosen. These estimates fall within the range of fiscal multiplier estimates in the literature for non-oil emerging markets.
Download or read book Saudi Arabia s Economy written by Hossein Askari and published by JAI Press(NY). This book was released on 1990 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Macroeconomics of the Arab States of the Gulf written by Raphael A. Espinoza and published by OUP Oxford. This book was released on 2013-10 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides original insights into the functioning of the GCC macro-economy. It covers structural, long-term, issues such as the determinants of economic growth, the impact of foreign workers on labour markets, wages, and competitiveness, and the economic impact of a rich state that wants to distribute oil money.
Download or read book Oil and the political economy in the Middle East written by Martin Beck and published by Manchester University Press. This book was released on 2021-08-17 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The downhill slide in the global price of crude oil, which started mid-2014, had major repercussions across the Middle East for net oil exporters, as well as importers closely connected to the oil-producing countries from the Gulf. Following the Arab uprisings of 2010 and 2011, the oil price decline represented a second major shock for the region in the early twenty-first century – one that has continued to impose constraints, but also provided opportunities. Offering the first comprehensive analysis of the Middle Eastern political economy in response to the 2014 oil price decline, this book connects oil market dynamics with an understanding of socio-political changes. Inspired by rentierism, the contributors present original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The studies reveal a large diversity of country-specific policy adjustment strategies: from the migrant workers in the Arab Gulf, who lost out in the post-2014 period but were incapable of repelling burdensome adjustment policies, to Egypt, Jordan, and Lebanon, who have never been able to fulfil the expectation that they could benefit from the 2014 oil price decline. With timely contributions on the COVID-19-induced oil price crash in 2020, this collection signifies that rentierism still prevails with regard to both empirical dynamics in the Middle East and academic discussions on its political economy.
