Stakeholding as a New Development Strategy for Saudi Arabia

Giacomo Corneo

Review of Middle East Economics and Finance, 2011, vol. 7, issue 1, 1-19

Abstract: The transition from an oil-based to a knowledge-based economy requires that the population dramatically increases its level of human capital. This paper examines ways to achieve that transition in Saudi Arabia. It argues that massive public investment in education is not sufficient since non-cognitive skills are a bottleneck in the process of building human capital. In order to strengthen those skills, a set of reforms is proposed. The core of the proposal is the introduction of a social inheritance to each Saudi citizen reaching adult age, the SSGY.

Keywords: Saudi Arabia; stakeholder society; values; development (search for similar items in EconPapers)
Date: 2011
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DOI: 10.2202/1475-3693.1331

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