“…research & development and national cultures to secure the prosperous future of economy. Recently, Gulf nations including the Kingdom of Saudi Arabia (KSA) have also started investing in knowledge based society by building world-class universities, technology parks, and research centers as an effort to shift oil driven economies toward mixed economy in the near future for sustainable economic growth (Onsman, 2010;Alexander, 2018). This is because knowledge based economies normally utilize technology as a weapon for competitive advantage.…”
Saudi government is struggling to build knowledge based society to encounter social and economic challenges for the year 2030, when oil supply will be just sufficient to meet local Saudi demands. This study embarks upon the importance of the mixed-economy for sustainable growth in the 21 st century. This study investigates three objectives. Firstly, it highlights Saudi socio-economic challenges. Secondly, it identifies alternative ways to realize the vision of mixed economic model for oil driven economy. Thirdly, it identifies the relationship between human capital and Saudi economic indicators. This research presents a typology based upon econometric models using secondary data, collected from World-Bank, World Health Organization (2013) and Saudi Monitory Agency annual statistical data-streams. It is recommended that the Saudi youth can play a vital role in economic growth subject to change in their mindset to overcome artificial joblessness among the Saudis.
“…research & development and national cultures to secure the prosperous future of economy. Recently, Gulf nations including the Kingdom of Saudi Arabia (KSA) have also started investing in knowledge based society by building world-class universities, technology parks, and research centers as an effort to shift oil driven economies toward mixed economy in the near future for sustainable economic growth (Onsman, 2010;Alexander, 2018). This is because knowledge based economies normally utilize technology as a weapon for competitive advantage.…”
Saudi government is struggling to build knowledge based society to encounter social and economic challenges for the year 2030, when oil supply will be just sufficient to meet local Saudi demands. This study embarks upon the importance of the mixed-economy for sustainable growth in the 21 st century. This study investigates three objectives. Firstly, it highlights Saudi socio-economic challenges. Secondly, it identifies alternative ways to realize the vision of mixed economic model for oil driven economy. Thirdly, it identifies the relationship between human capital and Saudi economic indicators. This research presents a typology based upon econometric models using secondary data, collected from World-Bank, World Health Organization (2013) and Saudi Monitory Agency annual statistical data-streams. It is recommended that the Saudi youth can play a vital role in economic growth subject to change in their mindset to overcome artificial joblessness among the Saudis.
AQ6 The year for "Osman-Gani and Tan, 1998" has been changed to Osman-Gani and Tan, 2000 to match the entry in the references list. Please provide revisions if this is incorrect.
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