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POST FINANCIAL CRISIS STATE IN THE EMIRATE OF ABU DHABI, UNITED ARAB EMIRATES: CURRENT ECONOMIC DEVELOPMENTS AND FUTURE PROSPECTS

POST FINANCIAL CRISIS STATE IN THE EMIRATE OF ABU DHABI, UNITED ARAB EMIRATES: CURRENT ECONOMIC... The current global financial and economic crisis is almost unanimously considered as the most serious shock to the global economy since the 1930s Great Depression. Though this crisis originated from advanced economies, its consequences are global, especially for emerging economies that are highly integrated into the global economy. Imbalance in the world trade, US consumption pattern, and world dependency on the US $ currency, and the complex US financial derivatives market, were among the leading factors for the crisis. This paper sheds light on the emerging global regulatory framework and present financial status of the United Arab Emirates (UAE) in general and Abu Dhabi in particular after combating recession. It also discusses the long term development strategy for the UAE in the post crisis global economy. JEL: O5, G00 Keywords: financial crisis, Abu Dhabi, oil, Abu Dhabi Economic Vision 2030, United Arab Emirates http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

POST FINANCIAL CRISIS STATE IN THE EMIRATE OF ABU DHABI, UNITED ARAB EMIRATES: CURRENT ECONOMIC DEVELOPMENTS AND FUTURE PROSPECTS

Economics, Management, and Financial Markets , Volume 6 (1): 57-72 – Jan 1, 2011

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

The current global financial and economic crisis is almost unanimously considered as the most serious shock to the global economy since the 1930s Great Depression. Though this crisis originated from advanced economies, its consequences are global, especially for emerging economies that are highly integrated into the global economy. Imbalance in the world trade, US consumption pattern, and world dependency on the US $ currency, and the complex US financial derivatives market, were among the leading factors for the crisis. This paper sheds light on the emerging global regulatory framework and present financial status of the United Arab Emirates (UAE) in general and Abu Dhabi in particular after combating recession. It also discusses the long term development strategy for the UAE in the post crisis global economy. JEL: O5, G00 Keywords: financial crisis, Abu Dhabi, oil, Abu Dhabi Economic Vision 2030, United Arab Emirates

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2011

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