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The Saudi Arabian Economy

Policies, Achievements, and Challenges

  • Textbook
  • © 2010

Overview

Authors:
  1. Mohamed A. Ramady

    1. Petroleum & Minerals, Dept. Economics & Finance, King Fahd University of, Dhahran, Saudi Arabia

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  • Broadest, most up-to-date text on the Saudi economy

  • Pays particular attention to sensitive structural social issues, finance and capital market development, technology transfer, the effect of gender issues on development, and globalization

  • Accessible to undergraduates

  • Pedagogy includes graphs; tables; end-of-chapter summaries, questions, and discussion points; chapter objectives; and discussion boxes

  • Includes supplementary material: sn.pub/extras

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-xxii
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  2. The Setting

    1. Front Matter

      Pages 1-1
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    2. Overview

      • Mohamed A. Ramady
      Pages 3-12

  3. The Development Process

    1. Front Matter

      Pages 13-13
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    2. Reforms and Economic Planning

      • Mohamed A. Ramady
      Pages 15-41

    3. Public Finance

      • Mohamed A. Ramady
      Pages 43-72

  4. The Financial Sector

    1. Front Matter

      Pages 73-73
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    2. Saudi Arabian Monetary Agency (SAMA) and Monetary Policy

      • Mohamed A. Ramady
      Pages 75-109

    3. The Financial Markets

      • Mohamed A. Ramady
      Pages 111-143

    4. The Saudi Capital Market

      • Mohamed A. Ramady
      Pages 145-177

  5. The Domestic Sector

    1. Front Matter

      Pages 179-179
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    2. The Private Sector: Globalization Challenges

      • Mohamed A. Ramady
      Pages 181-215

    3. The Energy Sector

      • Mohamed A. Ramady
      Pages 217-256

  6. The Foreign Sector

    1. Front Matter

      Pages 257-257
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    2. Foreign Trade: Changing Composition and Direction

      • Mohamed A. Ramady
      Pages 259-287

    3. Saudi Arabia and the WTO

      • Mohamed A. Ramady
      Pages 289-320

  7. Key Challenges

    1. Front Matter

      Pages 321-321
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    2. Privatization and Foreign Direct Investment

      • Mohamed A. Ramady
      Pages 323-349

    3. Population and Demographics: Saudization and the Labour Market

      • Mohamed A. Ramady
      Pages 351-393

    4. Education: A Tool for a Knowledge-Based Economy

      • Mohamed A. Ramady
      Pages 395-428
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Keywords

About this book

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.

Authors and Affiliations

  • Petroleum & Minerals, Dept. Economics & Finance, King Fahd University of, Dhahran, Saudi Arabia

    Mohamed A. Ramady

About the author

Mohamed Ramady is Visiting Associate Professor at the Department of Finance and Economics, King Fahd University of Petroleum and Minerals. His main research interests are the economies of the Middle East and Saudi Arabia in particular, as well as money and banking. He also held senior positions with international financial institutions in the Arabian Gulf and Europe.

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