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Working for a Sustainable GCC Future: Reflections on Policies and Practices Read chapter Read first chapter

2012 | OriginalPaper | Chapter

12. Economic Diversification in Saudi Arabia: The Need for Improving Competitiveness for Sustainable Development

Author : M. Sadiq Sohail

Published in: The GCC Economies

Publisher: Springer New York

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Abstract

Since the discovery of oil in 1938 and the creation of the petroleum industry, oil has continued to make a profound impression on the economy of Saudi Arabia. Structural changes in the economy were, however, underway even before the oil discovery since 1930 when the founder of the modern state of Saudi Arabia, King Abdul Aziz Al-Saud, set about to transform the traditional economy of Saudi Arabia into a modern state (Booz 2008; Abdelrahman 2001). The economic philosophies of successive rulers have not changed since the reign of King Abdul Aziz Al-Saud, although the economic role of the government has been increasing enormously.

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previous chapter The GCC Intellectual Property Regimes: Global Harmonization or Regional Integration?
next chapter Successful Outward Foreign Direct Investment: Saudi Lessons and Recommendations
Literature
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Bashir, G. “Competitiveness of Saudi Industries: Manufacturing Costs and Productivity”, Economic Bulletin 26, Saudi Industrial Development Fund. 1997.
Booz and Co “Economic Diversification: The Road to Sustainable Development, A Report accessed from the Internet www. 2008.
Borensztein, E., De Gregorio, J. and Lee, J-W. “ How does Foreign Direct Investment Affect Economic Growth?”. Journal of International Economics, Vol. 45, pp. 115-35., 1998.CrossRef
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Helen Chapin Metz, ed. Saudi Arabia: A Country Study. Washington: GPO for the Library of Congress, 1992.
Khemani, R. ‘Fostering Diversification and Competitiveness: Strategies and Options for the Kingdom of Saudi Arabia’, paper presented at the symposium on the Future Vision for the Saudi Economy, Riyadh, 2001.
Porter “Clusters and the New Competitive Agenda for Companies and Governments” in On Competition (Harvard Business School Press), 1998.
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Ramady, M. A., The Saudi Arabian Economy: Policies, Achievements and Challenges. Springer: New York, 2010.CrossRef
Metadata
Title
Economic Diversification in Saudi Arabia: The Need for Improving Competitiveness for Sustainable Development
Author
M. Sadiq Sohail
Copyright Year
2012
Publisher
Springer New York
Book
The GCC Economies

Print ISBN: 978-1-4614-1610-4

Electronic ISBN: 978-1-4614-1611-1

Copyright Year: 2012

DOI
https://doi.org/10.1007/978-1-4614-1611-1_12