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An Introduction to Saudi Arabia

In: A Guide to the Saudi Arabian Economy

Author

Listed:
  • John R. Presley

    (Loughborough University
    Saudi British Bank)

Abstract

Saudi Arabia is a fascinating country to study. It has so many relatively unique features, vast land area, small population, geographical and geological variety, extreme climatic conditions, strong Islamic traditions and, of course, oil. The concern of this book is primarily with the uses to which oil, and the revenues which it has generated, have been put, both in and out of the kingdom. As for the economy, Saudi Arabia has so many differences from the typical developing economy that it deserves special attention. Oil revenues give it a financial surplus and an ability to create, in a short space of time, a large capital stock of buildings, roads, machinery, plant and equipment. Far from solving development problems this places unusual pressures upon other factor endowments; in particular it creates a manpower problem as well as straining the physical ability of the country to absorb increased spending; in the past decade this has led to inflation.

Suggested Citation

  • John R. Presley, 1984. "An Introduction to Saudi Arabia," Palgrave Macmillan Books, in: A Guide to the Saudi Arabian Economy, chapter 1, pages 1-8, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05741-2_1
    DOI: 10.1007/978-1-349-05741-2_1
    as

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