oth government agencies and private companies operate). The phrase "further major adjustments" is used in this context because many reforms have already been introduced into the economy of Saudi Arabia to both prepare for WTO membership and to respond to the pressures of major economy trading partners.
The impacts of WTO on Saudi Arabia, to some extent, will vary with respect to the sector of the economy considered. The study proposed will investigate the probable impacts of WTO membership on the banking sector of the economy of Saudi Arabia.
The overall objective of the proposed study is two-faceted: (a) to identify the effects of WTO membership on the banking sector of the economy of Saudi Arabia; and (b) to assess the magnitude of such effects. The specific objectives of the proposed study are as follows:
Identify and assess the magnitude of the effects of WTO membership on the commercial banking sub-sector of the banking sector of the economy of Saudi Arabia
Identify and assess the magnitude of the effects of WTO membership on the investment banking sector of the banking sub-sector of the economy of Saudi Arabia
Identify and assess the magnitude of the effects of WTO membership on the function of central banking in the economy of Saudi Arabia
Hypotheses will be tested in relation to each of the objectives stated in Section 1.3 (above). The hypotheses that will be tested are as follows:
In relation to the commercial banking sector of the economy of Saudi Arabia, WTO membership will lead to:
Increased participation by foreign co
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