Current Economic Development of Oil Exporting Countries
Current economic development of oil exporting countries.
(by the example of Saudi Arabia)
Introduction 3
OPEC and oil prices. 4
History 4
Common development problems of OPEC member countries 6
Saudi Arabia 8
History 8
Economic development 9
Main goals 9
Role of the government 10
New industry sectors 10
Private sector 11
Foreign labor 11
Social and politic structure 12
Conclusion 14
Literature 15 Introduction. The subject of this research is the economy and society of the oil-exporting countries while the topic can be described as current economic development of the oil-exporting countries and their prospects. As the best example we have chosen Saudi Arabia.
The oil-exporting countries are important players on the world market. They can set up oil prices reducing or increasing extraction rates, and mostly this is the only way they get money for their budgets, oil deposits have great influence on their economy. That’s what is called Dutch disease and what their biggest problem is. Some measures in many fields should be taken to get rid of this disease, to change economic and social structure, to make a shift to new phase in their development. This statement constitutes the thesis of this term-paper.
The general purpose of this research is to find common stages and common problems of oil-exporting countries development, try to explain them and suggest some solutions.
The goals can be determined as the following:
1. To look at the OPEC, its history and common problems of the Member Countries; to follow the interconnectedness between oil price and prosperity of the oil-exporters.
2. To consider brief history of Saudi Arabia for better understanding of that country.
3. To estimate the role of the government, private sector, new industry sectors, foreign labor and social and politic structure in economic development; to show current situation and topical problems in all these spheres.
4. In conclusion try to forecast the possible ways of
(by the example of Saudi Arabia)
Introduction 3
OPEC and oil prices. 4
History 4
Common development problems of OPEC member countries 6
Saudi Arabia 8
History 8
Economic development 9
Main goals 9
Role of the government 10
New industry sectors 10
Private sector 11
Foreign labor 11
Social and politic structure 12
Conclusion 14
Literature 15 Introduction. The subject of this research is the economy and society of the oil-exporting countries while the topic can be described as current economic development of the oil-exporting countries and their prospects. As the best example we have chosen Saudi Arabia.
The oil-exporting countries are important players on the world market. They can set up oil prices reducing or increasing extraction rates, and mostly this is the only way they get money for their budgets, oil deposits have great influence on their economy. That’s what is called Dutch disease and what their biggest problem is. Some measures in many fields should be taken to get rid of this disease, to change economic and social structure, to make a shift to new phase in their development. This statement constitutes the thesis of this term-paper.
The general purpose of this research is to find common stages and common problems of oil-exporting countries development, try to explain them and suggest some solutions.
The goals can be determined as the following:
1. To look at the OPEC, its history and common problems of the Member Countries; to follow the interconnectedness between oil price and prosperity of the oil-exporters.
2. To consider brief history of Saudi Arabia for better understanding of that country.
3. To estimate the role of the government, private sector, new industry sectors, foreign labor and social and politic structure in economic development; to show current situation and topical problems in all these spheres.
4. In conclusion try to forecast the possible ways of