The Saudi Arabian Economy, 2nd ed.--------------------------------------------------The Saudi Arabian economy has changed almost beyond recognition sincethe oil boom days of the 1980s, and the Kingdom itself has changedtoo economically, socially, and demographically. In the second editionof The Saudi Arabian Economy, Mohamed Ramady uses several overlappingthemes to establish and develop a framework for studying the fundamentalchallenges to the Saudi economy. Particular attention is paid to thebenefits of short-term planning and long-term diversification intendedto shield the economy from potentially de-stabilizing oil price fluctuationsand the pace and diversity of domestic reforms. The author examinesthe core strengths and evolution of various financial institutionsand the Saudi stock market in the face of globalization, before analyzingthe private sector in detail. Topics discussed include: * The hydrocarbonand minerals sector, including the emergence of the competitive petrochemicalsector * The impact of small and medium sized businesses and the evolvingrole of family businesses * The growing role of women in the Saudieconomy * The role of privatization and FDI as engines of change andthe position of public-private-partnerships * The establishment ofa foundation for a knowledge-based economy Finally, the author offersan analysis of the key challenges facing the Saudi economy, payingparticular attention to the potential costs and benefits of globalization,and membership in the WTO. Employment, education, economic and socialstability, and Saudi Arabia's place in the Gulf Cooperation Council,as well as Saudi Arabia's evolving strategic economic relations withChina and other countries are offered as keys to the consensus buildingneeded to ensure the Kingdom's healthy economic future.--------------------------------------------------Author Biography: Mohamed Ramady is Visiting Associate Professor atthe Department of Finance and Economics, King Fahd University of Petroleumand Minerals. His main research interests are the economies of theMiddle East and Saudi Arabia in particular, as well as money and banking.He also held senior positions with international financial institutionsin the Arabian Gulf and Europe.