Employment Sustainability and Prospects of the Automotive Industry in Saudi Arabia

Yusuf, Nadia; Nasrulddin, Vivian

doi:10.14207/ejsd.2021.v10n3p63

Cited by 2 publications

(2 citation statements)

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“…Despite the importance of conducting empirical studies to investigate the interaction between nonoil economic variables in Saudi Arabia, there has been only limited attention, in literature, with mostly concentrating on aggregate investment. Also, previous studies in Saudi Arabia are due to the lack of integration among these dynamics, and only a few studies with limited period coverage have been carried out on the basis of the relationship between Saudi Arabia's economic growth and its fnancial development [26,[31][32][33]. Tus, the Kingdom of Saudi Arabia remains a fertile environment for enriching academic literature and statistical research in the feld of measuring and investigating the announced programs at Vision 2030 of Saudi Arabia.…”

Section: Introductionmentioning

confidence: 99%

“…Tis means that there is a long-term cointegration among FI, nonoil-TO, nonoil-GCF, and nonoil-GDP development from 1980 to 2020 in Saudi Arabia. Next, we investigated the existence of a symmetric relationship between nonoil economic [33,82,86]. In addition, the results shown in Table 5 Panel: D showed that in NARDL models by Wald test, the long-run and short-run null hypotheses are accepted according to the Wald test for FI.…”

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confidence: 97%

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Investigating Interaction Dynamics among Nonoil Economic Growth and Its Most Important Determinants: Evidence from Saudi Arabia

Al-Abdi,

Badr,

Ali

et al. 2023

Discrete Dynamics in Nature and Society

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Over the past decades, Saudi Arabia’s economic development has strongly depended on oil revenues fueled by the rise of oil prices and the strong global market demands for crude oils. However, the country can no longer depend on oil revenues in the face of the dynamic global market, and hence, the Saudi government’s Vision 2030 seeks to reduce this dependence and diversify the economy’s sources of income. Motivated by this, this study aims to investigate the impact of growth factors: financial innovation (FI), nonoil trade openness (TO), nonoil gross capital formation (GCF), and human capital (CH) development on the nonoil economic growth in Saudi Arabia. The goal of this investigation is to examine the dynamic symmetrical and nonsymmetrical impact of these growth factors on nonoil economic growth and policymaking in Saudi Arabia. To achieve this, this study utilizes the distributed lag symmetric and asymmetric (ARDL and NARD) approaches to assess the short- and long-term symmetric relationships among these growth variables with nonoil economic growth as well as the stationarity, cointegration, and directionality among variables with the theory of “ceteris paribus” in the error correction model (ECM), and Granger causality framework to analyze time-series data from 1980 to 2020. The findings of this study revealed that the FI, TO, GCF, and CH have an impact on the nonoil economic growth in the short and long terms. Additionally, in the long term, the NARDL technique showed that the positive adjustments of HC, FI, TO, and GCF boost the development, which have very significant effects on the nonoil GDP. They also indicate that negative movements have more influence than positive movements in FI. Meanwhile, mixed directional causation results were observed in the short-run analyses. Overall, the findings of this study provide significant insights, empirical recommendations, and implications for policymakers striving to achieve sustainable nonoil trade economic growth in Saudi Arabia and the region.

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Section: Introductionmentioning

confidence: 99%

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confidence: 97%