The sharp increase in both the price of crude oil and resulting revenues to Saudi Arabia has seen the rapid growth of the kingdom s international trade and a large accumulation of financial assets. These sudden and drastic changes have taken place, however, within a mainly traditional economy, unprepared to cope with a massive increase in government revenues. Long-term planning is therefore of the utmost importance to Saudi Arabia, and this study, first published in 1978, presents a detailed analysis of the structure of the kingdom s economy, represented by a dynamic simulation model. The...