ECONOMIC DEVELOPMENT AND REVENUE INSTABILITY: THE SAUDI EXPERIENCE

Date

1992

Author

GHAMDI, Ahmad M. A.

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This paper sheds some light on the history of planning in Saudi Arabia. Estimates of economic growth of the major variables for the economy were presented to show to what extent planning, accompanied by massive expenditures, played a role in accomplishing the plans'objectives. The rates of growth during the period 1970-82 point out that massive oil revenue have contributed toward the achievement of the ambitious targets of the first two plans. However the declining of oil revenue after 1983 reversed the situation, where most of the variables have shown negative growth rates. This affected the whole growth rates of the entire period of the twenty years of planning. The last section of the paper presents a model for the effects of revenue instability on development. The results of the test provide additional support to the view that revenue instability has an impact on the process of development and economic growth path.

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https://hdl.handle.net/11511/110496

Collections

Department of Economics, Article