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

Presents a study of the impact of the global financial crisis on Saudi Arabia and the United Arab Emirates (UAE).
# 149807 | 7,120 words | 11 sources | APA | 2011 | US
Published on Jan 01, 2012 in Business (International) , Economics (International)


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Description:

This paper confirms the study's hypothesis that the impact of the global financial crisis upon the countries of Saudi Arabia and the United Arab Emirates (UAE) was slower in being realized than throughout the rest of the world but nevertheless did impact both countries. Next, the author reviews the definition of the financial crisis, its time sequence and symptoms globally and with these two countries. The paper recommends the importance of continuing to diversify the economies of UAE and Saudi Arabian as a method of mitigating the impact of the present and future global economic crises.

Table of Contents:
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 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
Recommendations

From the Paper:

"Furthermore, the debt financing markets are stated to have been frozen due to the financial conditions both locally and globally. The stock market in Saudi Arabia is stated to have "gone into freefall" since the crisis intensified. However, since many of the companies and investors in Saudi Arabia do not have to borrow the funds needing for funding requirements. Jawai (2008) states the conditions in this area has actually improved due to the collapse of raw material prices and the "easing of global supply bottlenecks" which results in falling project costs. It is stated to be similar for the government in that while the government will be impacted by lower oil revenues at the same time government revenues in Saudi Arabia "will remain exceptionally large and are backed up by huge foreign assets held at SAMA. The government, due to these resources is able to not only meet its commitments but as well in the position to "underwrite the private sector in key strategic projects." (Jawai, 2008, p.4) Stated as the most immediate and the clearest impact of the financial crisis on the economy in Saudi Arabia is the collapse in oil prices.
"The work of Moore (2009) entitled: "The U.S.-U.A.E. Trade and Investment Relationship 2009 Update" states that the long-term outlook for the UAE "remains bright" as the "price of petroleum will rise as economic growth rebounds. This translates into an on-going ability of the UAE to purchase U.S. products for which its consumers clearly have a strong demand. Exports of U.S. services, ranging from healthcare, financial management, construction, education and entertainment will remain robust in coming years as well."

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 Term Paper:

APA Format

The Global Financial Crisis: Saudi Arabia and UAE (2012, January 01) Retrieved July 10, 2020, from https://www.academon.com/term-paper/the-global-financial-crisis-saudi-arabia-and-uae-149807/

MLA Format

"The Global Financial Crisis: Saudi Arabia and UAE" 01 January 2012. Web. 10 July. 2020. <https://www.academon.com/term-paper/the-global-financial-crisis-saudi-arabia-and-uae-149807/>

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