The Saudi Arabian economy: policies, achievements, and challenges
Gespeichert in:
1. Verfasser: | |
---|---|
Format: | Buch |
Sprache: | English |
Veröffentlicht: |
New York, NY [u.a.]
Springer
2010
|
Ausgabe: | 2. ed. |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | XXII, 512 S. graph. Darst. |
ISBN: | 9781441959867 |
Internformat
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100 | 1 | |a Ramady, Mohamed A. |e Verfasser |4 aut | |
245 | 1 | 0 | |a The Saudi Arabian economy |b policies, achievements, and challenges |c Mohamed A. Ramady |
250 | |a 2. ed. | ||
264 | 1 | |a New York, NY [u.a.] |b Springer |c 2010 | |
300 | |a XXII, 512 S. |b graph. Darst. | ||
336 | |b txt |2 rdacontent | ||
337 | |b n |2 rdamedia | ||
338 | |b nc |2 rdacarrier | ||
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Datensatz im Suchindex
_version_ | 1804145570550382592 |
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adam_text | IMAGE 1
CONTENTS
PART I THE SETTING
1 OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
SETTING THE STAGE . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
THE FINANCIAL SECTOR . . . . . . . . . . . . . . . . . . . . . . . . . 5
THE HEART OF THE KINGDOM: THE HYDROCARBON SECTOR . . . . . . . . 6
THE FOREIGN SECTOR . . . . . . . . . . . . . . . . . . . . . . . . . . 8
MEETING FUTURE CHALLENGES . . . . . . . . . . . . . . . . . . . . . . 9
CONCLUSIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
PART II THE DEVELOPMENT PROCESS
2 REFORMS AND ECONOMIC PLANNING . . . . . . . . . . . . . . . . . . 15
DIFFICULT DECISIONS BEING TAKEN . . . . . . . . . . . . . . . . . . . 15
ECONOMIC DIVERSIFICATION REMAINS CRITICAL . . . . . . . . . . . . . . 15
REFORMS AT CENTRE STAGE . . . . . . . . . . . . . . . . . . . . . . 16
TRANSFORMING THE JUDICIAL SYSTEM . . . . . . . . . . . . . . . . . 18
NATIONAL ECONOMIC PLANNING: THE FRAMEWORK . . . . . . . . . . . . 18
STRATEGIC CHOICES . . . . . . . . . . . . . . . . . . . . . . . . . . 20
THE HISTORY OF SAUDI PLANNING . . . . . . . . . . . . . . . . . . . . 21
PLAN ACHIEVEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . 23
THE PERFORMANCE OF THE SAUDI ECONOMY . . . . . . . . . . . . . . . 27
ECONOMIC DIVERSIFICATION: REALITIES . . . . . . . . . . . . . . . . . .
29
COMPOSITION OF SAUDI GDP . . . . . . . . . . . . . . . . . . . . . . 32
THE CHALLENGES AHEAD . . . . . . . . . . . . . . . . . . . . . . . . 38
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
40
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . . 41
3 PUBLIC FINANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . .
43
OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
43
THE BUDGET - A BAROMETER OF THE NATION S HEALTH . . . . . . . . . . 43
OIL WEALTH VERSUS OIL POVERTY . . . . . . . . . . . . . . . . . . . . .
45
SAUDI WINDFALL GAINS AND LOSSES . . . . . . . . . . . . . . . . . . . 47
VII
IMAGE 2
VIII CONTENTS
OVERDEPENDENCE ON OIL VERSUS BUILDING TRUE WEALTH . . . . . . . . 48
THE SAUDI BUDGETARY SYSTEM: SIGNALS VERSUS REALITY . . . . . . . . 50
BUDGET SECTORAL ALLOCATIONS: GOVERNMENT INTENTIONS ARE REVEALED 52
CAPITAL EXPENDITURE ASSUMES MORE IMPORTANCE . . . . . . . . . . 53
LIMITED SOURCES OF INCOME IS KEY CONSTRAINT . . . . . . . . . . . 54
INCOME DIVERSIFICATION IS NOT EASY . . . . . . . . . . . . . . . . 57
DESPITE LOWER OIL PRICE, BUMPER EXPENDITURE CONTINUES . . . . . 60
FINANCING BUDGET DEFICITS: CYCLICAL OR STRUCTURAL DEFICITS? . . . . . 61
BURDEN OF INDEBTEDNESS AND DEBT-LED GROWTH . . . . . . . . . . . . 63
CROWDING OUT THE PRIVATE SECTOR . . . . . . . . . . . . . . . . . . 65
FACING THE CHALLENGES: SHORT- AND LONG-TERM SOLUTIONS . . . . . . . 67
THE TIME FOR RHETORIC IS OVER . . . . . . . . . . . . . . . . . . . . 69
HOPEFUL FUTURE . . . . . . . . . . . . . . . . . . . . . . . . . . . .
71
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . . 71
PART III THE FINANCIAL SECTOR
4 SAUDI ARABIAN MONETARY AGENCY (SAMA) AND MONETARY POLICY 75 LEARNING
OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . . 75
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
75
ASSERTING INDEPENDENCE . . . . . . . . . . . . . . . . . . . . . . . .
76
SAMA S STATED FUNCTIONS . . . . . . . . . . . . . . . . . . . . . . 78
SAMA S EVOLVING RESPONSIBILITIES . . . . . . . . . . . . . . . . . . 79
CENTRAL BANK MONETARY POLICY . . . . . . . . . . . . . . . . . . . . 81
STRUCTURE OF THE SAUDI FINANCIAL SYSTEM . . . . . . . . . . . . . . 82
CENTRAL BANK MONETARY POLICY: THE THEORY . . . . . . . . . . . . 83
SAUDI MONETARY POLICY IN PRACTICE . . . . . . . . . . . . . . . . . 84
THE CENTRALITY OF SAMA S EXCHANGE RATE POLICY . . . . . . . . . 87
SAUDI BANKS HAVE AMPLE RESERVES . . . . . . . . . . . . . . . . . . 90
RELIANCE ON OPEN-MARKET OPERATIONS . . . . . . . . . . . . . . . 91
MONEY SUPPLY CREATION AND MONETARY POLICY . . . . . . . . . . . . 93
COMPOSITION OF SAUDI ARABIA S MONEY SUPPLY . . . . . . . . . . . . 96
FINANCIAL DEEPENING OF THE SAUDI ECONOMY . . . . . . . . . . . . . 97
SAMA AND INF LATION CONTROL POLICIES . . . . . . . . . . . . . . . . .
98
THE ECONOMIC AND SOCIAL IMPACT OF INFLATION . . . . . . . . . . . . 101
MANAGING THE KINGDOM S RESERVES . . . . . . . . . . . . . . . . . . 103
FUTURE DEVELOPMENT AND CHALLENGES . . . . . . . . . . . . . . . . . 105
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
108
5 THE FINANCIAL MARKETS . . . . . . . . . . . . . . . . . . . . . . .
111
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
111
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
111
THE SAUDI BANKING SECTOR . . . . . . . . . . . . . . . . . . . . . . 112
SAMA AND BANK SUPERVISION . . . . . . . . . . . . . . . . . . . . . 114
THE EARLY YEARS (1940S-1960S): INFANCY PERIOD . . . . . . . . . . 115
THE 1970S: THE ADOLESCENCE PERIOD . . . . . . . . . . . . . . . . 116
IMAGE 3
CONTENTS IX
COMING OF AGE IN THE 1980S: YOUNG ADULTHOOD . . . . . . . . . . 117
THE 1990S AND THE PERIOD OF MATURITY . . . . . . . . . . . . . . . 118
2000 ONWARDS . . . . . . . . . . . . . . . . . . . . . . . . . . . 119
SAUDI BANK SHAREHOLDER CONCENTRATION AND OWNERSHIP . . . . . . . 121
PERFORMANCE OF THE SAUDI BANKS . . . . . . . . . . . . . . . . . . . 123
CONCENTRATION RATIOS ARE WORRYING FOR COMPETITION . . . . . . . . . 126
THE RUSH TO SEGMENTATION . . . . . . . . . . . . . . . . . . . . . . 127
SAUDI BANKS LENDING PROFILE . . . . . . . . . . . . . . . . . . . . .
130
ASSET-LIABILITY MANAGEMENT IS A PROBLEM . . . . . . . . . . . . . . 132
SAUDI BANKS SECTORAL LENDING: CONSUMER LENDING TAKES OFF . . . . 134 THE
EMERGENCE OF THE INSURANCE SECTOR . . . . . . . . . . . . . . . 136
FOREIGN PARTICIPATION IN THE INSURANCE SECTOR . . . . . . . . . . . . .
139
ISLAMIC FINANCE IN THE KINGDOM . . . . . . . . . . . . . . . . . . . 140
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
141
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
142
6 THE SAUDI CAPITAL MARKET . . . . . . . . . . . . . . . . . . . . . .
145
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
145
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
145
ESTABLISHING A NATIONAL STOCK MARKET CARRIES WITH IT RISKS AND
RESPONSIBILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . 146
SAUDI CAPITAL MARKET DEVELOPMENTS: A HISTORICAL PERSPECTIVE . . . 146
SAUDI CAPITAL MARKET OPERATION . . . . . . . . . . . . . . . . . . . 147
THE NEW CAPITAL MARKET LAW . . . . . . . . . . . . . . . . . . . . . 149
ORGANIZATION STRUCTURE AND OPERATIONS OF THE CMA . . . . . . . . . 152
REGULATORY SUPERVISION AND INHERENT BIASES . . . . . . . . . . . . . 157
THE SAUDI CAPITAL MARKET: ARAB WORLD S LARGEST . . . . . . . . . . . 158
FREE SHARE FLOAT IS AN ISSUE . . . . . . . . . . . . . . . . . . . . . .
161
SAUDI CAPITAL MARKET PERFORMANCE . . . . . . . . . . . . . . . . . . 162
SECTORAL PERFORMANCE OF THE SAUDI MARKET . . . . . . . . . . . . . . 164
INVESTOR BEHAVIOUR: IRRATIONAL EXUBERANCE AND HERD MENTALITY . . . 165
BOOSTING FOREIGN PARTICIPATION . . . . . . . . . . . . . . . . . . . .
169
SAUDI MUTUAL FUND MARKET GROWTH . . . . . . . . . . . . . . . . . . 171
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
173
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
176
PART IV THE DOMESTIC SECTOR
7 THE PRIVATE SECTOR: GLOBALIZATION CHALLENGES . . . . . . . . . . . 181
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
181
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
181
THE OPERATING FRAMEWORK . . . . . . . . . . . . . . . . . . . . . . 182
THE LEGAL SETTING . . . . . . . . . . . . . . . . . . . . . . . . . . .
182
THE CORPORATE SETTING . . . . . . . . . . . . . . . . . . . . . . . . .
184
THE ECONOMIC SETTING . . . . . . . . . . . . . . . . . . . . . . . . .
185
GOVERNMENT NATIONAL STRATEGY FOR INDUSTRY . . . . . . . . . . . . . .
187
IMAGE 4
X CONTENTS
FOREIGN PARTICIPATION . . . . . . . . . . . . . . . . . . . . . . . . .
188
THE SMALL AND MEDIUM ENTERPRISES - SMES . . . . . . . . . . . . . 190
SME MODEL FOR GROWTH . . . . . . . . . . . . . . . . . . . . . . 194
SAUDI FAMILY BUSINESSES . . . . . . . . . . . . . . . . . . . . . . .
196
SAUDI WOMEN AND THE NATIONAL ECONOMY . . . . . . . . . . . . . . 200
ESTIMATING THE SIZE OF SAUDI WOMEN S INVESTMENTS . . . . . . . . 202
GOVERNMENT AND BUSINESS RELATIONS IN SAUDI ARABIA . . . . . . . . 205
PROMOTING PRIVATE SECTOR SELF-SUSTAINED GROWTH . . . . . . . . . . . 210
LOOKING AHEAD: A MODEL FOR COOPERATION . . . . . . . . . . . . . . 213
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
214
8 THE ENERGY SECTOR . . . . . . . . . . . . . . . . . . . . . . . . . .
217
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
217
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
217
OIL-BASED ECONOMIES: A THEORETICAL ANALYSIS . . . . . . . . . . . . 218
THE SAUDI PETROLEUM SECTOR . . . . . . . . . . . . . . . . . . . . 219
THE OPPORTUNITY COST OF MAINTAINING SPARE CAPACITY . . . . . . . 223
OIL PEAK DEBATES: SOONER OR LATER? . . . . . . . . . . . . . . . 223
SAUDI ARABIA, OPEC AND FAIR PRICING . . . . . . . . . . . . . . . 225
SAUDI OIL POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . . .
230
DILEMMA OF HIGH AND LOW PRICES . . . . . . . . . . . . . . . . . . 233
OIL AND SAUDI GDP CONTRIBUTION . . . . . . . . . . . . . . . . . . . 237
MAINTAINING THE FAR EAST PRICING PREMIUM . . . . . . . . . . . . . . 239
A NEW ENERGY STAR: THE GAS SECTOR . . . . . . . . . . . . . . . . . 241
FOREIGN INTEREST IN GAS PROJECTS . . . . . . . . . . . . . . . . . . . .
242
NEW PARTNERS STEP IN . . . . . . . . . . . . . . . . . . . . . . . . 243
OUTLOOK FOR SAUDI GAS SECTOR . . . . . . . . . . . . . . . . . . . . .
244
PETROCHEMICALS: ADDING VALUE . . . . . . . . . . . . . . . . . . . . 245
GENERATING SECONDARY INDUSTRIES . . . . . . . . . . . . . . . . . . .
247
FUTURE CHALLENGES . . . . . . . . . . . . . . . . . . . . . . . . . . .
248
THE MINING SECTOR: A HIDDEN GEM . . . . . . . . . . . . . . . . . . 249
ESTABLISHING A MODEL FOR MINING COOPERATION . . . . . . . . . . . 252
THE CHALLENGE OF ALTERNATIVE ENERGY . . . . . . . . . . . . . . . . .
252
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
255
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
255
PART V THE FOREIGN SECTOR
9 FOREIGN TRADE: CHANGING COMPOSITION AND DIRECTION . . . . . . 259
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
259
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
259
THE CAUSES OF TRADE . . . . . . . . . . . . . . . . . . . . . . . . .
260
SAUDI INDUSTRIAL AND EXPORT STRATEGY . . . . . . . . . . . . . . . . .
263
SAUDI ARABIA S TRADING PATTERNS: EXPORTS . . . . . . . . . . . . . . .
265
IMPORT DIVERSITY . . . . . . . . . . . . . . . . . . . . . . . . . . . .
267
ORIGINS OF IMPORTS ARE CHANGING . . . . . . . . . . . . . . . . . . .
269
IMAGE 5
CONTENTS XI
THE EXPORT SECTOR: OIL IS STILL KING . . . . . . . . . . . . . . . . .
271
ASIAN EXPORTS PREDOMINATE . . . . . . . . . . . . . . . . . . . . . .
272
EFFICIENCY AND COMPETITIVENESS . . . . . . . . . . . . . . . . . . . .
273
ACHIEVING COMPETITIVENESS . . . . . . . . . . . . . . . . . . . . 275
SAUDI COMPETITIVENESS PERFORMANCE . . . . . . . . . . . . . . . . 276
REDUCING COMPETITIVENESS OBSTACLES . . . . . . . . . . . . . . . 279
SAUDI ARABIA S COMPETITIVE ADVANTAGES . . . . . . . . . . . . . . 280
FOREIGN SECTOR TRADE DEVELOPMENT . . . . . . . . . . . . . . . . . . 282
DIRECT ASSISTANCE FOR EXPORTING FIRMS . . . . . . . . . . . . . . . 282
ASSIST ALL SIZES OF FIRMS TO EXPORT . . . . . . . . . . . . . . . . 283
ESTABLISH INSTITUTIONAL DEVELOPMENT PROGRAMMES . . . . . . . . . 283
DEVELOP INTERNATIONAL TRADE IN SERVICES . . . . . . . . . . . . . . 284
ADOPT BEST PRACTICES . . . . . . . . . . . . . . . . . . . . . . . . 284
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
285
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
286
10 SAUDI ARABIA AND THE WTO . . . . . . . . . . . . . . . . . . . . .
289
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
289
KEY CHALLENGES . . . . . . . . . . . . . . . . . . . . . . . . . . . .
289
GLOBALIZATION: THE THEORETICAL ARGUMENTS . . . . . . . . . . . . . . 290
BENEFITS AND COSTS OF TRADE LIBERALIZATION . . . . . . . . . . . . . .
293
THE WORLD TRADE ORGANIZATION . . . . . . . . . . . . . . . . . . . . 293
HISTORICAL OVERVIEW OF GATT AND WTO . . . . . . . . . . . . . . 295
WHAT NEXT FOR THE WTO? . . . . . . . . . . . . . . . . . . . . . . 298
SAUDI ARABIA S WTO ACCESSION: A LONG AND HARD ROAD . . . . . . 299 THE
WTO AGREEMENTS: IMPLICATIONS FOR SAUDI INDUSTRY . . . . . . 301 WTO AND
DISPUTE SETTLEMENT . . . . . . . . . . . . . . . . . . . . . 312
THE HYDROCARBON SECTOR AND WTO ACCESSION . . . . . . . . . . . . 313
WTO AND SAUDIZATION . . . . . . . . . . . . . . . . . . . . . . .
316
THE WTO AND SAUDI LEGAL SYSTEM . . . . . . . . . . . . . . . . . . 317
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
320
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
320
PART VI KEY CHALLENGES
11 PRIVATIZATION AND FOREIGN DIRECT INVESTMENT . . . . . . . . . . . 323
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
323
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
323
TAKING THE FIRST STEPS FOR PRIVATIZATION . . . . . . . . . . . . . . . .
324
PRIVATIZATION: KEY CONCEPTS . . . . . . . . . . . . . . . . . . . . . .
325
ROUTES TO PRIVATIZATION . . . . . . . . . . . . . . . . . . . . . . . .
327
SAUDI ARABIA S BASIC PRIVATIZATION OBJECTIVES . . . . . . . . . . . .
329
PRIVATIZATION EFFORTS BY SECTOR: MIXED RESULTS . . . . . . . . . . . .
330
OBSTACLES TO PRIVATIZATION . . . . . . . . . . . . . . . . . . . . . . .
336
FOREIGN DIRECT INVESTMENT (FDI): THEORETICAL BASIS . . . . . . . . . 338
SAUDI FDI: ESTABLISHING THE OPERATIONAL FRAMEWORK . . . . . . . . . 339
IMAGE 6
XII CONTENTS
SAUDI FDI: A SCORE SHEET . . . . . . . . . . . . . . . . . . . . . . .
342
SAUDI FDI FLOWS: ON THE RISE . . . . . . . . . . . . . . . . . . . . 342
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
349
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
349
12 POPULATION AND DEMOGRAPHICS: SAUDIZATION AND THE LABOUR MARKET . . .
. . . . . . . . . . . . . . . . . . . . . . . . . 351
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
351
OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
351
POPULATION AND DEMOGRAPHICS . . . . . . . . . . . . . . . . . . . . 352
HUMAN RESOURCES AND EMPLOYMENT: THEORETICAL ANALYSIS . . . . . . 355
STRUCTURE OF THE SAUDI LABOUR MARKET AND TRENDS . . . . . . . . . . 356
THE DUALITY OF THE SAUDI WAGE MARKET . . . . . . . . . . . . . . . 361
SAUDIZATION : A VIABLE SOLUTION? . . . . . . . . . . . . . . . . . . .
363
SAUDIZATION : GOVERNMENT MEASURES AND RESPONSES . . . . . . . . 366
PRIVATE SECTOR SAUDIZATION ISSUES . . . . . . . . . . . . . . . . . 368
REGULATING FOREIGN LABOUR . . . . . . . . . . . . . . . . . . . . . .
369
AN INCENTIVE-BASED SAUDIZATION STRATEGY . . . . . . . . . . . . . 373
LABOUR PARTICIPATION - A MODEL FOR NEW ENTRANTS . . . . . . . . . . 375
SAUDI UNEMPLOYMENT . . . . . . . . . . . . . . . . . . . . . . . . . 377
INCREASING THE LABOUR PARTICIPATION RATE: OIL BOOM BABY BOOMERS 379
EDUCATION AND LABOUR PARTICIPATION LEVELS . . . . . . . . . . . . . .
381
EDUCATED UNEMPLOYED . . . . . . . . . . . . . . . . . . . . . . 382
CONTROLLING THE PUBLIC SECTOR FREE RIDE . . . . . . . . . . . . . .
383
FEMALE LABOUR PARTICIPATION . . . . . . . . . . . . . . . . . . . . .
386
COUNTING THE COST OF UNEMPLOYMENT . . . . . . . . . . . . . . . . . 389
SAUDI LABOUR MODEL: UNIQUE TO SAUDI ARABIA? . . . . . . . . . . . . 390
CONCLUSION: EXPECTATIONS, REALISM AND ADAPTATION . . . . . . . . . 391
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
393
13 EDUCATION: A TOOL FOR A KNOWLEDGE-BASED ECONOMY . . . . . . . 395
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
395
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
395
MEETING THE GLOBALIZATION CHALLENGES . . . . . . . . . . . . . . . . 396
EDUCATION IN SAUDI ARABIA . . . . . . . . . . . . . . . . . . . . . .
398
THE SAUDI EDUCATIONAL STRUCTURE . . . . . . . . . . . . . . . . . . .
405
SAUDI EDUCATION AND EMPLOYMENT . . . . . . . . . . . . . . . . . . 411
RESTRUCTURING THE SAUDI EDUCATION SYSTEM . . . . . . . . . . . . . . 414
LOOKING TOWARDS THE FUTURE . . . . . . . . . . . . . . . . . . . . . 416
IN PURSUIT OF ACADEMIC EXCELLENCE: ESTABLISHING WORLD-CLASS UNIVERSITIES
. . . . . . . . . . . . . . . . . . . . . . . 418
KAUST: A NEW SAUDI EDUCATION PARADIGM . . . . . . . . . . . . . 423
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
427
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
427
IMAGE 7
CONTENTS XIII
14 SAUDI ARABIA S GLOBAL RELATIONS: GCC AND BEYOND . . . . . . . 429
LEARNING OUTCOMES . . . . . . . . . . . . . . . . . . . . . . . . . .
429
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
429
THE RATIONALE FOR REGIONAL BLOCKS . . . . . . . . . . . . . . . . . .
430
THE FIRST MILESTONE: THE GCC . . . . . . . . . . . . . . . . . . . . 430
STATES OF THE GCC: THE SETTING . . . . . . . . . . . . . . . . . . . 432
THE GCC IN A SNAPSHOT . . . . . . . . . . . . . . . . . . . . . 434
ECONOMIC DIVERSIFICATION AND ECONOMIC INTEGRATION . . . . . . . . . 437
DIVERSIFYING THE ECONOMIC BASE . . . . . . . . . . . . . . . . . . 442
THE GCC FINANCIAL SECTOR: SURVIVING THE GLOBAL TURMOIL . . . . . . 445
THE REGULATORY FRAMEWORK . . . . . . . . . . . . . . . . . . . . . . 448
DEVELOPMENT OF OFFSHORE AND ISLAMIC BANKING . . . . . . . . . . . . 452
THE GCC CAPITAL MARKETS . . . . . . . . . . . . . . . . . . . . . . 454
GCC TRADE: NON-REGIONAL BOUND . . . . . . . . . . . . . . . . . . 459
GCC DEMOGRAPHICS AND THE LABOUR MARKET . . . . . . . . . . . . . 461
GCC MONETARY UNION: A LONG AND HARD ROAD . . . . . . . . . . . 464
TO PEG OR NOT TO PEG AGAINST THE DOLLAR? . . . . . . . . . . . . . . .
467
THINKING WEST BUT MOVING EAST: SAUDI ARABIA S NEW STRATEGIC PARTNERSHIPS
. . . . . . . . . . . . . . . . . . . . . . . . . 470
ENERGY SECURITY AT THE HEART OF ASIAN RELATIONSHIPS . . . . . . . . .
471
SAUDI-INDIAN RELATIONS: TECHNOLOGY AND TRADE . . . . . . . . . . . 474
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
474
SUMMARY OF KEY POINTS . . . . . . . . . . . . . . . . . . . . . . . .
475
PART VII CONCLUSION
15 THE CHALLENGES AHEAD . . . . . . . . . . . . . . . . . . . . . . . .
479
SO RICH AND YET SO POOR . . . . . . . . . . . . . . . . . . . . . . .
479
MANAGING EXPECTATIONS AND REFORMS . . . . . . . . . . . . . . . . . 480
SOCIAL COHESION AND POVERTY REDUCTION . . . . . . . . . . . . . . . 482
THE CHALLENGES AHEAD . . . . . . . . . . . . . . . . . . . . . . . . 483
REGIONAL AND INTERNATIONAL RELATIONS . . . . . . . . . . . . . . . . .
484
EDUCATION: QUALITY, NOT QUANTITY . . . . . . . . . . . . . . . . . . .
485
WOMEN S ISSUES WILL BE IMPORTANT . . . . . . . . . . . . . . . . . . 486
STAKE IN SOCIETY . . . . . . . . . . . . . . . . . . . . . . . . . . . .
487
BIBLIOGRAPHY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . 489
INDEX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 505
|
any_adam_object | 1 |
author | Ramady, Mohamed A. |
author_facet | Ramady, Mohamed A. |
author_role | aut |
author_sort | Ramady, Mohamed A. |
author_variant | m a r ma mar |
building | Verbundindex |
bvnumber | BV026931397 |
classification_rvk | MH 70910 |
ctrlnum | (OCoLC)845652392 (DE-599)DNB998805890 |
dewey-full | 330 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 330 - Economics |
dewey-raw | 330 |
dewey-search | 330 |
dewey-sort | 3330 |
dewey-tens | 330 - Economics |
discipline | Politologie Wirtschaftswissenschaften |
edition | 2. ed. |
format | Book |
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geographic | Saudi-Arabien (DE-588)4051788-3 gnd |
geographic_facet | Saudi-Arabien |
id | DE-604.BV026931397 |
illustrated | Illustrated |
indexdate | 2024-07-09T23:21:33Z |
institution | BVB |
isbn | 9781441959867 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-022453657 |
oclc_num | 845652392 |
open_access_boolean | |
owner | DE-188 DE-11 |
owner_facet | DE-188 DE-11 |
physical | XXII, 512 S. graph. Darst. |
publishDate | 2010 |
publishDateSearch | 2010 |
publishDateSort | 2010 |
publisher | Springer |
record_format | marc |
spelling | Ramady, Mohamed A. Verfasser aut The Saudi Arabian economy policies, achievements, and challenges Mohamed A. Ramady 2. ed. New York, NY [u.a.] Springer 2010 XXII, 512 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wirtschaftsentwicklung (DE-588)4066438-7 gnd rswk-swf Wirtschaft (DE-588)4066399-1 gnd rswk-swf Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf Saudi-Arabien (DE-588)4051788-3 gnd rswk-swf Saudi-Arabien (DE-588)4051788-3 g Wirtschaftspolitik (DE-588)4066493-4 s Wirtschaftsentwicklung (DE-588)4066438-7 s DE-188 Wirtschaft (DE-588)4066399-1 s 1\p DE-604 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=022453657&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
spellingShingle | Ramady, Mohamed A. The Saudi Arabian economy policies, achievements, and challenges Wirtschaftsentwicklung (DE-588)4066438-7 gnd Wirtschaft (DE-588)4066399-1 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd |
subject_GND | (DE-588)4066438-7 (DE-588)4066399-1 (DE-588)4066493-4 (DE-588)4051788-3 |
title | The Saudi Arabian economy policies, achievements, and challenges |
title_auth | The Saudi Arabian economy policies, achievements, and challenges |
title_exact_search | The Saudi Arabian economy policies, achievements, and challenges |
title_full | The Saudi Arabian economy policies, achievements, and challenges Mohamed A. Ramady |
title_fullStr | The Saudi Arabian economy policies, achievements, and challenges Mohamed A. Ramady |
title_full_unstemmed | The Saudi Arabian economy policies, achievements, and challenges Mohamed A. Ramady |
title_short | The Saudi Arabian economy |
title_sort | the saudi arabian economy policies achievements and challenges |
title_sub | policies, achievements, and challenges |
topic | Wirtschaftsentwicklung (DE-588)4066438-7 gnd Wirtschaft (DE-588)4066399-1 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd |
topic_facet | Wirtschaftsentwicklung Wirtschaft Wirtschaftspolitik Saudi-Arabien |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=022453657&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT ramadymohameda thesaudiarabianeconomypoliciesachievementsandchallenges |