The Difficulties Facing the Saudi Economy Integration in the Global Capital Accumulation Formation

Document Type : Research Paper

Authors

1 PhD student in International Relations, Faculty of Humanities, Tarbiat Modares University

2 Assistant Professor, Department of International Relations, Faculty of Humanities, Tarbiat Modares University

Abstract

The primary concern of the article lies in this question: Why cannot the capital accumulation in Saudi Arabia (despite the advantages of globalization, young workforce, understanding about inefficiency of oil-based economy and planning to economic reform) transfer from an oil-dependent accumulation formation to a post-industrial accumulation? In order to answer this question, the author suggests that changes in the process of capital accumulation in Saudi Arabia depend on changes the government's approach to society, the private sector (restrictions on civil society) and its costly foreign policy. As long as the government's approach will continue, accumulation in Saudi Arabia will depend on oil and will not have the elements of global capital accumulation such as: science and technology, specialty of internal experts, and benefits of service sector.

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References

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Strategic Studies of public policy
Volume 9, Issue 31
August 2019
Pages 173-193

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