Diversification of the economy, including exports, is a core goal of Saudi Vision 2030 (SV2030). The petrochemical sector can considerably contribute to the Kingdom’s diversification strategy, as it holds a substantial share in non-oil exports. First, this study econometrically estimated how exports of chemicals and rubber-plastics were shaped by theoretically articulated domestic and foreign factors over the 1993-2020 period. Then, the estimated export equations were integrated into a general equilibrium model, called the King Abdullah Petroleum Studies and Research Center (KAPSARC) Global Energy Macroeconometric Model (KGEMM), and a scenario analysis was conducted for the diversification implications of foreign and domestic price shocks until 2035.
Senior Fellow I Fakhri Hasanov is a senior fellow and leads the KAPSARC Global Energy Macroeconometric Model projects with 20+ years of experience… Fakhri Hasanov is a senior fellow and leads the KAPSARC Global Energy Macroeconometric Model projects with 20+ years of experience in econometric modeling and forecasting. Since 2015, he has been involved in multistakeholder projects, leading and executing macroeconomic analysis of various policy choices and initiatives (e.g., energy prices, energy demand, and fiscal reforms) for the Kingdom’s economy. He has extensive experience working with policymakers. Prior to KAPSARC, he was a post-doc at George Washington University. His research mainly covers macro-econometric modeling for energy and environmental economics policy analyses. Dr. Hasanov has authored 50+ applied studies published in reputable journals such as Energy Policy, Energy Economics, Empirical Economics, and Energy Strategy Review. His research is recognized internationally (e.g., he is listed among the top 2% of scientists globally by Elsevier). Fakhri is an editorial board member of various peer-reviewed journals, such as Frontiers in Environmental Science. He holds a Ph.D. in econometrics.
- Econometric modeling and forecasting
- Time series and panel data econometrics
- Macroeconometric models for policy analyses
- Energy economics
- Environmental economics.
Publications See all Fakhri Hasanov’s publications
The Role of Petrochemical Sector Exports in the Diversification of the Saudi Economy: A Scenario Analysis of Foreign and Domestic Price Shocks
Diversification of the economy, including exports, is a core goal of Saudi Vision 2030 (SV2030).…22nd October 2023
Modeling and forecasting industrial electricity demand for Saudi Arabia: Uncovering regional characteristics
Diversification of the economy, including exports, is a core goal of Saudi Vision 2030 (SV2030).…1st October 2023