أثر أدوات السياسة المالية في النمو الاقتصادي في الاقتصاد السعودي والاقتصاد الأردني للمدة 1970-2003

Abstract

The relation between the financial policy and the economic development is
considered as one of the subjects that was paid a great deal of attention by
the economic and financial studies, and took different forms and dimensions
as the subject is dealt with. In this research many financial indicators were
used to study and analyze the relation between the financial policy and
development, and the extent of effect between the two variables. The
common feature of most of the studies that the research depended on refers
the fact that this relation can extend from financial policy to development,
and visa versa. The matter which gives the chance to causal relations
between financial policy and economic development to appear. The study
hypothesizes. That the economic development attraction of financial policy
gives a strong likelihood for multiplicity of causal relation between the first
and the second, in addition to the difference of the effect from one country
to another. The researcher has found that the increase of total returns in
Saudi Arabian economy with a percentage of 1% causes to increase the
governmental spending with a percentage of 0.0005 to a thousand, while the
reduction of economic development rate with a percentage of 1% causes to
reduce the governmental spending with a percentage of 0.27%. And the
reduction in the deficit with a percentage of 1% causes the increase of
governmental spending with a percentage of 17.41%. As for Jordan, there is
a causal relation between the total returns and governmental spending,
which means that the increase of total returns causes the increase of
governmental spending, in addition, the total returns depend mainly on
governmental returns, and the increase of governmental spending on (health
care and improving population's life) can activate the rates of development
in the total economy. The researcher proposes that Saudi Arabia needs to
treat the defect resulting from depending on earnings income resources in
funding the public spending, and the necessity of researching and balancing
income resources resulting from taxes earnings and financial funding. As for
Jordan, we propose to direct towards financial and taxes reformation,
variability of taxes income resources, treating deficiency in the regulations
concerning taxes avoidance as an attempt to increase the financial outcome
of the state accompanied by achieving economic and social aims of financial
and taxes policies.