Economic Development in Saudi Arabia (Durham Modern Middle East and Islamic World Series) - Softcover

Al Rajhi, Ahmed

Softcover

ISBN 10: 1138362115 ISBN 13: 9781138362116

Publisher: Routledge, 2018

Synopsis

The changing political situation in the Middle East poses challenges for the economies of the region, and some see none more vulnerable to collapse than Saudi Arabia's. Yet as this study demonstrates, the fundamentals of the Kingdom's economy are relatively robust, as over three quarters of GDP is accounted for by the non-oil sector, and impressive modern industries have been established, notably in petrochemicals. The financial system functions well, and despite substantial government debts, there is low inflation and currency stability. The private sector increasingly drives the economy, although job creation has been insufficient to prevent rising youth unemployment. The development challenges Saudi Arabia faces are similar to those of other middle-income countries, and three decades of diversification have made the economy less unique than it was in the oil boom years of the 1970s.

About this title

About the Author:

Rodney Wilson is Professor of Economics at the Institute for Middle Eastern and Islamic Studies, University of Durham. His main research interests are the trade and finance of the Middle East. His previous books for Routledge include Economic Development in the Middle East.

About this edition

• Publisher: Routledge
• Publication date: 2018
• ISBN 10: 1138362115
• ISBN 13: 9781138362116
• Binding: Paperback
• Edition number: 1
• Number of pages: 208