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Stakeholding as a New Development Strategy for Saudi Arabia

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  • Corneo Giacomo

    (Free University of Berlin)

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.

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File URL: http://www.degruyter.com/view/j/rmeef.2011.7.1/rmeef.2011.7.1.1331/rmeef.2011.7.1.1331.xml?format=INT
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Bibliographic Info

Article provided by De Gruyter in its journal Review of Middle East Economics and Finance.

Volume (Year): 7 (2011)
Issue (Month): 1 (May)
Pages: 1-19

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Handle: RePEc:bpj:rmeecf:v:7:y:2011:i:1:n:1

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  1. Sascha O. Becker & Erik Hornung & Ludger Woessmann, 2009. "Catch Me If You Can: Education and Catch-up in the Industrial Revolution," CESifo Working Paper Series 2816, CESifo Group Munich.
  2. Frederick van der Ploeg, 2008. "Voracious Transformation of a Common Natural Resource into Productive Capital," OxCarre Working Papers 002, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  3. Flavio Cunha & James J. Heckman, 2009. "The Economics and Psychology of Inequality and Human DEvelopment," Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 320-364, 04-05.
  4. James J. Heckman & Jora Stixrud & Sergio Urzua, 2006. "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 411-482, July.
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Cited by:
  1. Giacomo Corneo, 2011. "Work Norms and the Welfare State," CESifo Working Paper Series 3665, CESifo Group Munich.

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