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Has the Dollar Peg Served the Saudi Economy Well?
Alkhareif, Ryadh M. Barnett, William A. Qualls, John H.
Alkhareif, Ryadh M.
Barnett, William A.
Qualls, John H.
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Abstract
There are three major objectives of this paper: first, to examine the various exchange rate
regimes and arrangements that have emerged over the last 40 years since the collapse of the
Bretton Woods Agreement, focusing on the advantages and disadvantages of each,
particularly as they relate to inflation and real economic growth, second, to analyze the
historical relationship between the Kingdom’s various exchange rate regimes and the
performance of its non-oil private sector, and third, to compare Saudi Arabia’s economic
performance since 1986 (when the riyal was firmly pegged to the US dollar) with a number
of other developed and developing countries that have followed different exchange rate
arrangements. The findings of this paper confirm that the dollar peg has served Saudi Arabia
well.
Description
Date
2017
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Publisher
Macrothink Institute
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Keywords
Monetary policy, Exchange rate regimes, Inflation, GDP
Citation
Alkhareif, R.M., Barnett, W.A., Qualls, J.H.: Has the Dollar Peg Served the Saudi Economy Well?, International Finance and Banking, https://doi.org/10.5296/ifb.v4i1.11189