Saudi Arabia and the rentier regime trap: a critical assessment of the plan Vision 2030

Adrien Faudot

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Abstract: The oil price drop which occurred in international markets in 2014 has revived concerns about the economic situation of Saudi Arabia. The country is at a crossroads, as evidenced by both its unsustainable economic model and the plan that the government proposed in spring 2016 to overcome dependence on oil, Vision 2030. This article examines the country's ability to achieve this objective by analysing the Vision 2030 plan and the socioeconomic challenges that Saudi Arabia is facing. The economic problems of Saudi Arabia do not stem from the weakness of its institutions. Quite the opposite, forged by oil exports, the structures of its rentier economy are well-established and difficult to push forward. To understand such a state of affairs, this article provides an analysis of the Saudi economy's accumulation regime. Furthermore, the article questions development economics regarding oil-rich countries which are concerned by the Dutch disease issue.

Keywords: Saudi Arabia; oil rent; Dutch disease; accumulation regime (search for similar items in EconPapers)
Date: 2019
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-02087364v1
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Citations: View citations in EconPapers (2)

Published in Resources Policy, 2019, 62, pp.94-101. ⟨10.1016/j.resourpol.2019.03.009⟩

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Journal Article: Saudi Arabia and the rentier regime trap: A critical assessment of the plan Vision 2030 (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02087364

DOI: 10.1016/j.resourpol.2019.03.009

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