Saudi Arabia’s Economic Competitiveness in the Middle East
Saudi Arabia is one of the key economic players in the Middle East with a number of competitive advantages. The article analyzes these advantages as well as disadvantages and identifies measures to improve the competitive potential of Saudi Arabia. Methodologically it employs the Porter’s «diamond m...
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| Format: | Article |
| Language: | English |
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MGIMO University Press
2019-03-01
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| Series: | Vestnik MGIMO-Universiteta |
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| Online Access: | https://www.vestnik.mgimo.ru/jour/article/view/874 |
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| author | T. V. Naumenko K. V. Timakhov |
| author_facet | T. V. Naumenko K. V. Timakhov |
| author_sort | T. V. Naumenko |
| collection | DOAJ |
| description | Saudi Arabia is one of the key economic players in the Middle East with a number of competitive advantages. The article analyzes these advantages as well as disadvantages and identifies measures to improve the competitive potential of Saudi Arabia. Methodologically it employs the Porter’s «diamond model». Cultural, historical and socio-political trends in Saudi Arabia increase the complexity of reforming the economy and increasing its competitiveness. The current reforms are insufficient to improve the quality of human capital. Existing economic and political institutions need to be reformed. There is an obvious problem of low women’s employment. Despite the fact that Saudi Arabia occupies only the 4th place on the regional competitive index table, authors see ways to strengthen this indicator of the Kingdom’s economy. The most decisive factor in this regard as argued by the authors is the elimination of state institutional problems which are chiefly responsible for low competitiveness of the economy. |
| format | Article |
| id | doaj-art-2cf887410baa4e0fb2a40bae5affcafe |
| institution | Kabale University |
| issn | 2071-8160 2541-9099 |
| language | English |
| publishDate | 2019-03-01 |
| publisher | MGIMO University Press |
| record_format | Article |
| series | Vestnik MGIMO-Universiteta |
| spelling | doaj-art-2cf887410baa4e0fb2a40bae5affcafe2025-01-30T12:15:53ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992019-03-0101(64)14716710.24833/2071-8160-2019-1-64-147-167838Saudi Arabia’s Economic Competitiveness in the Middle EastT. V. Naumenko0K. V. Timakhov1Lomonosov Moscow State UniversityLomonosov Moscow State UniversitySaudi Arabia is one of the key economic players in the Middle East with a number of competitive advantages. The article analyzes these advantages as well as disadvantages and identifies measures to improve the competitive potential of Saudi Arabia. Methodologically it employs the Porter’s «diamond model». Cultural, historical and socio-political trends in Saudi Arabia increase the complexity of reforming the economy and increasing its competitiveness. The current reforms are insufficient to improve the quality of human capital. Existing economic and political institutions need to be reformed. There is an obvious problem of low women’s employment. Despite the fact that Saudi Arabia occupies only the 4th place on the regional competitive index table, authors see ways to strengthen this indicator of the Kingdom’s economy. The most decisive factor in this regard as argued by the authors is the elimination of state institutional problems which are chiefly responsible for low competitiveness of the economy.https://www.vestnik.mgimo.ru/jour/article/view/874saudi arabiamiddle eastthe oil industrythe development trendthe index of global competitivenesscompetitive advantagesthe «oil curse»the institutional environmentthe «competitive rhombus» of porterfactor analysishuman capital |
| spellingShingle | T. V. Naumenko K. V. Timakhov Saudi Arabia’s Economic Competitiveness in the Middle East Vestnik MGIMO-Universiteta saudi arabia middle east the oil industry the development trend the index of global competitiveness competitive advantages the «oil curse» the institutional environment the «competitive rhombus» of porter factor analysis human capital |
| title | Saudi Arabia’s Economic Competitiveness in the Middle East |
| title_full | Saudi Arabia’s Economic Competitiveness in the Middle East |
| title_fullStr | Saudi Arabia’s Economic Competitiveness in the Middle East |
| title_full_unstemmed | Saudi Arabia’s Economic Competitiveness in the Middle East |
| title_short | Saudi Arabia’s Economic Competitiveness in the Middle East |
| title_sort | saudi arabia s economic competitiveness in the middle east |
| topic | saudi arabia middle east the oil industry the development trend the index of global competitiveness competitive advantages the «oil curse» the institutional environment the «competitive rhombus» of porter factor analysis human capital |
| url | https://www.vestnik.mgimo.ru/jour/article/view/874 |
| work_keys_str_mv | AT tvnaumenko saudiarabiaseconomiccompetitivenessinthemiddleeast AT kvtimakhov saudiarabiaseconomiccompetitivenessinthemiddleeast |