The Saudi Arabian Economy

Policies, Achievements, and Challenges

  • Mohamed A. Ramady

Table of contents

  1. Front Matter
    Pages i-xxii
  2. The Setting

    1. Front Matter
      Pages 1-1
    2. Mohamed A. Ramady
      Pages 3-12
  3. The Development Process

    1. Front Matter
      Pages 13-13
    2. Mohamed A. Ramady
      Pages 15-41
    3. Mohamed A. Ramady
      Pages 43-72
  4. The Financial Sector

    1. Front Matter
      Pages 73-73
    2. Mohamed A. Ramady
      Pages 111-143
    3. Mohamed A. Ramady
      Pages 145-177
  5. The Domestic Sector

    1. Front Matter
      Pages 179-179
    2. Mohamed A. Ramady
      Pages 181-215
    3. Mohamed A. Ramady
      Pages 217-256
  6. The Foreign Sector

    1. Front Matter
      Pages 257-257
    2. Mohamed A. Ramady
      Pages 259-287
    3. Mohamed A. Ramady
      Pages 289-320
  7. Key Challenges

    1. Front Matter
      Pages 321-321
    2. Mohamed A. Ramady
      Pages 323-349
    3. Mohamed A. Ramady
      Pages 395-428
    4. Mohamed A. Ramady
      Pages 429-476
  8. Conclusion

    1. Front Matter
      Pages 477-477
    2. Mohamed A. Ramady
      Pages 479-488
  9. Back Matter
    Pages 489-512

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. 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.


China Gulf Cooperation Council Hydrocarbons KFUPM KSA Minerals Oil Oil Economy Saudi Arabia Saudi Arabian Monetary Agency (SAMA) Saudi Banking Saudi Economy Saudi Stock Market WTO labour market

Authors and affiliations

  • Mohamed A. Ramady
    • 1
  1. 1.Petroleum & Minerals, Dept. Economics & FinanceKing Fahd University ofDhahranSaudi Arabia

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media, LLC 2010
  • Publisher Name Springer, Boston, MA
  • eBook Packages Business and Economics
  • Print ISBN 978-1-4419-5986-7
  • Online ISBN 978-1-4419-5987-4
  • Buy this book on publisher's site