This paper provides background information for an appreciation of the anticipated emergence of Saudi Arabia as a major financial force on the world monetary scene. Besides presenting a history of economic and financial developments in Saudi Arabia, it illustrates the main characteristics of a...

This paper provides evidence that high and rising corruption increases income inequality and poverty. An increase of one standard deviation in corruption increases the Gini coefficient of income inequality by about 11 points and income growth of the poor by about 5 percentage points per year....