Political Economy of Saudi Arabia

This book is a broad ranging survey of the development of the political economy of Saudi Arabia from the 1960s right up to the present day. The first of its kind, the book analyses the social and political dynamics which have shaped economic development, the outcomes which have ensued, and the challenges which currently face the country's further development. The focus throughout is on the way in which social, political and economic factors interact and set the limits and character of development. The context is set by the massive increase in revenues accruing to the Saudi state following the sharp rise in oil prices since 2004. The Saudi government's current economic strategy envisages Saudi Arabia emerging as a major industrial power, with a substantial stake in the global petrochemicals market. Do the dynamics of Saudi Arabia's political economy, as it has developed since the discovery of oil, suggest that such a strategy could succeed? Is the social basis of the Saudi state, especially the state-private sector relationship, geared to that kind of outcome? Does Saudi Arabia share the characteristics which have enabled some Far Eastern and South-East Asian countries to undergo rapid industrialisation? If such a strategy is successful, what will it mean for the Saudi population, and will the social impact be positive or negative? These are the issues and concerns addressed in the book. Written by a highly respected scholar and a hands-on economic analyst, The Political Economy of Saudi Arabia is ideal reading for those with practical involvement in Saudi Arabia and to students and academics in the area of Middle Eastern studies.Niblock, Tim is the author of 'Political Economy of Saudi Arabia', published 2007 under ISBN 9780415428422 and ISBN 0415428424.