We have discussed various indicators to check out whether the Saudi Arabian economy is under the process of economic diversification or it is heading towards dependency on one sector (what so-called Dutch Disease). Such indicators include the ratio of oil revenues to total revenues of the Saudi Budget, ratio of crude oil sector value-added to Saudi total value added, or GDP, and the export concentration ratio (or export diversification ratio). In this Assignment, however, you should: 1. Collect data on Total GDP, Crude Oil GDP, Total Public Revenues, Crude Oil Revenues, Total Domestic Exports, and Crude Oil Exports. The sample should be for Saudi Arabia and for 10 years after the year 2000. 2. Calculate the above mentioned three indicators, namely: (i) the ratio of oil revenues to total revenues of the Saudi Budget, (ii) ratio of crude oil sector value-added to Saudi total value added, or GDP and, (iii) crude oil exports to total Saudi domestic exports ratio (or export diversification ratio) for each year of your sample. 3. Graph these three indicators to see the trends. 4. Comment on the results.
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