Determinants of Kuwait economic growth

The aim of this study is to identify the factors that impact economic growth in Kuwait. To achieve this objective, data were collected from the World Bank Databank and Kuwait Central Statistical Bureau for the period 1996- 2020. GDP per capita (constant 2015 US$) has been used to signify economic growth together with seven explanatory variables: net inflows of foreign direct investment (FDI), control of corruption, gross capital formation, population growth, life expectancy at birth, broad money supply and total natural resources rents. Significant positive association appeared between economic growth and each of FDI, gross fixed capital formation and population growth, whereas, significant negative association is detected between economic growth and each of broad money supply, life expectancy at birth and total natural resources rents. Yet, negative but insignificant association appeared between economic growth and the control of corruption.