Fig. 1: Causality between the level of uncertainty indexes and the economic growth and financial development (Annual frequency).
From: How volatility in the oil market and uncertainty shocks affect Saudi economy: a frequency approach
a Oil return volatility and financial development (Measure: MCGDP). b GPR and Financial development (Measure: MCGDP). c WUI and Financial development (Measure: MCGDP). d Oil return volatility and Economic growth. e GPR and Economic growth. f WUI and Economic growth. g Oil return volatility and financial development(Measure: FIAIX). h GPR and Financial development (Measure: FIAIX). i WUI and Financial development (Measure: FIAIX). Each panel shows the relationship between different uncertainty indicators (oil return volatility, GPR, WUI) and either financial development or economic growth, with MCGDP and FIAIX as financial development measures.
