Munich Personal RePEc Archive

Financial Market Development and Employment Nexus in Saudi Arabia

Alkhateeb, Tarek Tawfik Yousef and Mahmood, Haider and Sultan, Zafar Ahmad and Ahmad, Nawaz (2017): Financial Market Development and Employment Nexus in Saudi Arabia. Published in: International Journal of Applied Business and Economic Research , Vol. 15, No. 21 (1 December 2017): pp. 165-174.

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Abstract

Financial Market Development (FMD) could play a great role in economic growth and employment generation. This research has investigated the FMD and employment nexus in Saudi Arabia by employing ARDL cointegration on a period 1980-2015. In the long run, we have found the positive impact of FMD, Saudization and investment on employment. Human Capital Index (HCI) is found insignificant in employment generation and remittance outflows have negative influence on employment. We recommend the government of Saudi Arabia to promote and to relax the economic environment for general and financial investment in the Kingdom. Further, Saudization may also need further attention as it creates pleasant impact on employment.

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