The Saudi Arabian Economy: Policies, Achievements, and Challenges

In this unique text, Mohamed Ramady develops a framework for studying fundamental challenges to the modern Saudi Arabian economy. Public and private sector topics include: . The hydrocarbon and minerals sector, including a new model of mining privatization and cooperation . The impact of small and medium sized businesses . The evolving role of ''family'' businesses . The growing role of women in the Saudi economy . Shifting trade patterns . The Saudi ''offset'' technology transfer program The author offers an analysis of key challenges facing the Saudi economy, including the potential costs and benefits of privatization, globalization, and eventual membership in the WTO. Employment, education, economic and social stability, and Saudi Arabia’s place in the Gulf Cooperation Council are offered as keys to the consensus building needed to ensure the Kingdom’s healthy economic future. Mohamed Ramady teaches in the Department of Finance and Economics, King Fahd University of Petroleum and Minerals.

the Saudi Arabian Economy Has Changed Almost Beyond Recognition Since The Oil Boom Days Of The 1980s, And The Kingdom Itself Has Changed Too Economically, Socially, And Demographically. In The Second Edition Of The Saudi Arabian Economy, Mohamed Ramady Uses Several Overlapping Themes To Establish And Develop A Framework For Studying The Fundamental Challenges To The Saudi Economy. Particular Attention Is Paid To The Benefits Of Short-term Planning And Long-term Diversification Intended To Shield The Economy From Potentially De-stabilizing Oil Price Fluctuations And The Pace And Diversity Of Domestic Reforms.
the Author Examines The Core Strengths And Evolution Of Various Financial Institutions And The Saudi Stock Market In The Face Of Globalization, Before Analyzing The Private Sector In Detail. Topics Discussed Include:
•the Hydrocarbon And Minerals Sector, Including The Emergence Of The Competitive Petrochemical Sector
•the Impact Of Small And Medium Sized Businesses And The Evolving Role Of “family” Businesses
•the Growing Role Of Women In The Saudi Economy
•the Role Of Privatization And Fdi As Engines Of Change And The Position Of Public-private-partnerships
•the Establishment Of A Foundation For A Knowledge-based Economy Finally, The Author Offers An Analysis Of The Key Challenges Facing The Saudi Economy, Paying Particular Attention To The Potential Costs And Benefits Of Globalization, And Membership In The Wto. Employment, Education, Economic And Social Stability, And Saudi Arabia’s Place In The Gulf Cooperation Council, As Well As Saudi Arabia’s Evolving Strategic Economic Relations With China And Other Countries Are Offered As Keys To The Consensus Building Needed To Ensure The Kingdom’s Healthy Economic Future.

Overview....Pages 1-11 Economic Planning: History, Role and Effectiveness....Pages 13-39 Government Finances and the Saudi Budgetary System....Pages 41-78 Saudi Arabian Monetary Agency (SAMA) and Monetary Policy....Pages 79-108 The Financial Markets....Pages 109-150 The Saudi Capital Market....Pages 151-183 The Private Sector: Challenges and Opportunities....Pages 185-216 The Kingdom’s Heart: The Hydrocarbon and Minerals Sector....Pages 217-245 Foreign Trade....Pages 247-278 The Saudi Economic Offset Program: A Tool for Technology Transfer....Pages 279-311 Economic Liberalization: Globalization, Privatization and Foreign Direct Investment....Pages 313-349 Population and Demographics: Saudization and the Labor Market....Pages 351-386 Education and Knowledge for Development....Pages 387-415 Saudi Arabia and the Gulf Cooperation Council (GCC)....Pages 417-452 Conclusion: The Challenges Ahead....Pages 453-468