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Cointegration and Causality between Economic Growth and Social Development in Saudi Arabia

Author

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  • Rami Ben Haj - Kacem

    (University of Dammam)

Abstract

This paper presents an attempt to examine the causal relationships between economic growth and social development in Saudi Arabia between 1980 and 2011. For that, statistical and econometric techniques, such as unit root test, cointegration and Granger Engels causality through Vector Error Correction Model (VECM) are applied. Based on the aggregation of several indicators to construct a single social composite index, results show that there is significant long run causality from social development to economic growth. This indicates that trickle-up hypothesis is more active dominantly and that development strategies in Saudi Arabia have succeeded to reach significant social development enough to cause economic growth in the long run.

Suggested Citation

  • Rami Ben Haj - Kacem, 2014. "Cointegration and Causality between Economic Growth and Social Development in Saudi Arabia," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 4(2), pages 1-4, April.
    • Handle: RePEc:spp:jkmeit:1439
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    More about this item

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General

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