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Stakeholding as a new development strategy for Saudi Arabia

Author

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  • Corneo, Giacomo

Abstract

The transition from an oil-based to a knowledge-based economy requires that the Saudi population dramatically increases its level of human capital. This paper argues that noncognitive skills may be a bottleneck in the formation of human capital and proposes a policy to indirectly strengthen those skills. The core of the proposal is a government-financed gift to each Saudi citizen reaching adult age, the SSGY.

Suggested Citation

  • Corneo, Giacomo, 2010. "Stakeholding as a new development strategy for Saudi Arabia," Discussion Papers 2010/20, Free University Berlin, School of Business & Economics.
  • Handle: RePEc:zbw:fubsbe:201020
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    File URL: https://www.econstor.eu/bitstream/10419/43691/1/637351231.pdf
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    References listed on IDEAS

    as
    1. Becker, Sascha O. & Hornung, Erik & Woessmann, Ludger, 2009. "Catch Me If You Can: Education and Catch-up in the Industrial Revolution," IZA Discussion Papers 4556, Institute for the Study of Labor (IZA).
    2. 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.
    3. 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.
    4. Frederick van der Ploeg, 2010. "Voracious Transformation Of A Common Natural Resource Into Productive Capital," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(2), pages 365-381, May.
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    Cited by:

    1. Giacomo Corneo, 2012. "Work Norms and the Welfare State," CESifo Economic Studies, CESifo, vol. 58(4), pages 599-625, December.

    More about this item

    Keywords

    Saudi Arabia; Stakeholder Society; Value Systems; Economic Development;

    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • Z1 - Other Special Topics - - Cultural Economics

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