Abstract #301934

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JSM 2002 Abstract #301934
Activity Number: 49
Type: Contributed
Date/Time: Sunday, August 11, 2002 : 4:00 PM to 5:50 PM
Sponsor: Business & Economics Statistics Section*
Abstract - #301934
Title: Fiscal Dependence on Oil Revenue and Economic Development: the Saudi Arabian Case
Author(s): Abdullah Albatel*+
Affiliation(s): King Saud University
Address: PO Box 87105, Riyadh, , 11642, Saudi Arabia
Keywords: Fiscal ; Dependence ; Oil Revenue ; Finance ; Government Budget
Abstract:

There is evidence that broadly support the general notion that fiscal dependence on some sources of revenue as trade taxes declines with development. According to this proposition, a country's degree of dependence is inversely related to its development, at least once it passes a certain threshold. However, other work suggested that a positive relationship exists. The importance of oil to the economy of Saudi Arabia is reflected in its share in the gross domestic product (GDP). As a single sector, oil is the largest contributor to GDP. Given that oil revenue serves largely to finance the government budget, the aim is to assess the contribution of oil to the economy of Saudi Arabia and the adverse effects on the economy of large fluctuations in these revenues.

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