The Global Financial Crisis: Saudi Arabia and the UAE Research Paper by Nicky

An examination of the impact of the global financial crisis on Saudi Arabia and the United Arab Emirates (UAE).
# 149782 | 6,629 words | 10 sources | APA | 2011 | US
Published on Jan 01, 2012 in Economics (International) , Middle Eastern Studies (General)


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Description:

The paper presents the thesis that the global financial crisis has impacted the countries of Saudi Arabia and the United Arab Emirates, but both countries are positioned well to withstand the onslaught of repercussions from this crisis. The paper outlines the causes of the crisis and discusses the resulting rise in costs of living and food prices in these countries. The paper finds from the research that the private sector will feel the impact of the economic crisis the most severely, and specifically in relation to the construction projects that are presently ongoing. A figure is included in the paper.

Outline:
Statement of Thesis
Purpose of the Study
Significance of the Study
Definition of the Financial Crisis
Time Sequence of the Global Financial Crisis
Introduction to the Study
Causes of the the Financial Crisis
Background of the Study
Symptoms of the Crisis and its Implications
Further Examination of Evidence of Impact
Findings of the Study
Summary and Conclusion

From the Paper:

"The present financial crisis has derived from more than one source although many blame this on the subprime mortgage industry. The truth is that the present financial crisis can be blamed on many aspects of economic policy and practice areas. The work of Jawai (2008) states that the problems "stem from the collapse of the dotcom boom in the early part of the decade and the subsequent period of low interest rates." (p.2)
"Lower interest rates worked to drive excessive lending and risk-taking in the financial sector. In 2006, 15 percent of the mortgage market in the United States were loans known as 'sub-prime' loans. The banks repackaged their risks "into complex financial products and sold these to other financial institutions.
"April 2007 witnessed the collapse of sub-prime lender New Century Financial and this collapse was only the first of many casualties. The British government nationalized the mortgage lender Northern Rock and soon afterwards Bear Stearns collapse due to subprime loans. Fannie Mae and Freddie Mac were nationalized in September 2008 because of the great losses suffered due to mortgage defaults. Soon afterwards Lehman Brother, the United State's fourth largest investment bank collapse and this is stated to have "greatly intensified the financial crisis." (Jawai, 2008, p.2)"

Sample of Sources Used:

  • Bayhan, A. (2009) Gulf States Can Take Advantage of Financial Crisis by Focusing on Competitiveness. 26 May 2009. TCI Network. Online available at: http://www.competitiveness.org/article/view/1053/1/91
  • Behrendt, Christina, Haq, Tariq, and Kamel, Noura (2009) The Impact Of The Financial And Economic Crisis On Arab States: Considerations On Employment And Social Protection Policy Responses. April 2009. ILO Regional Office for Arab States. International Labor Organization 2009. Online available at: http://www.ilo.org/public/english/support/lib/financialcrisis/download/impact_english.pdf
  • Bourland, Brad (2008) Saudi Arabia and the Global Financial Crisis. Dec 2008. Online Saudi-US Relations Information Service (SUSRIS). Available at: http://www.saudi-us-relations.org/articles/2008/ioi/081216-jadwa-bulletin.html
  • Bourland, Brad (2008) Update on Global and Local Financial Conditions. Saudi-US Relations Information Service. 25 Oct 2008. Online available at: http://www.saudi-us-relations.org/articles/2008/special-reports/081025-jadwa-report.html
  • Global Economic Crisis: A Catalyst for Change in Saudi Arabia (2009) The Brookings Institution. 25 Feb 2009. Online available at: http://www.brookings.edu/interviews/2009/0225_saudi_arabia_dhillon.aspx

Cite this Research Paper:

APA Format

The Global Financial Crisis: Saudi Arabia and the UAE (2012, January 01) Retrieved December 06, 2021, from https://www.academon.com/research-paper/the-global-financial-crisis-saudi-arabia-and-the-uae-149782/

MLA Format

"The Global Financial Crisis: Saudi Arabia and the UAE" 01 January 2012. Web. 06 December. 2021. <https://www.academon.com/research-paper/the-global-financial-crisis-saudi-arabia-and-the-uae-149782/>

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