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Ushering in the Post-Oil Era : = A Functional Finance Approach to Development, Diversification and Sustainability in Saudi Arabia.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Ushering in the Post-Oil Era :/
Reminder of title:	A Functional Finance Approach to Development, Diversification and Sustainability in Saudi Arabia.
Author:	Azad, Shama.
Description:	1 online resource (235 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-12, Section: A.
Contained By:	Dissertations Abstracts International84-12A.
Subject:	Middle Eastern studies. -
Online resource:	click for full text (PQDT)
ISBN:	9798379718992

Ushering in the Post-Oil Era : = A Functional Finance Approach to Development, Diversification and Sustainability in Saudi Arabia.
Azad, Shama.

Ushering in the Post-Oil Era :A Functional Finance Approach to Development, Diversification and Sustainability in Saudi Arabia. - 1 online resource (235 pages)

Source: Dissertations Abstracts International, Volume: 84-12, Section: A.

Thesis (Ph.D.)--University of Missouri - Kansas City, 2023.

Includes bibliographical references

The purpose of this dissertation is to analyze the social, economic and financial structures and the growth potential of Saudi Arabia as a fixed exchange rate country. Saudi Arabia has had its currency pegged to the US dollar since 1986. From a traditional MMT perspective, the country can thus not be defined as monetarily sovereign. Monetarily non-sovereign countries fall on a continuum of sovereignty in accordance with their ability to meet their exchange rate requirements and maintain their peg. In this dissertation, I conduct an inquiry, using the example of Saudi Arabia, of how the framework of Functional Finance, and particularly the use of fiscal policy, can be adapted for non-sovereign countries. Saudi Arabia has been an export-driven economy for many decades and has been largely dependent on its oil sales proceeds. However, with volatility in oil prices and the need to find sustainable energy practices, it has started to diversify its economy and develop other sectors. As the country is not monetarily sovereign and its private sector is still developing, its export revenues have served it well so far. The government has been able to build a substantial stock of foreign exchange reserves that can be used to defend its exchange rate peg and achieve policy goals. Through the dissertation, I study the current framework of the country and review its main challenges and strategies with regards to oil dependence, diversification, employment and revenue streams. All development policies discussed herein are grounded in Modern Money Theory and are aimed to be sustainable, functional and customized to the specific case of Saudi Arabia.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798379718992Subjects--Topical Terms:

1179422
Middle Eastern studies.
Subjects--Index Terms:

Post-oil eraIndex Terms--Genre/Form:

554714
Electronic books.

Ushering in the Post-Oil Era : = A Functional Finance Approach to Development, Diversification and Sustainability in Saudi Arabia.
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