The Global Economic Crisis and Consequences

This exciting and timely collection identifies and addresses the impacts of the global financial crisis on Dubai and the surrounding region. The issues are highlighted and analyzed by a group of distinguished scholars, focusing specifically on such issues as: Why and how the financial crisis happened and what its consequences are for the economies of the Middle East; defining the emerging global regulatory framework and the new financial architecture; the long term development strategy for the UAE / Dubai in the post crisis global economy; and the oil market and the global financial crisis.

All Tawfik Al Sadik is the senior economist and project manager at the Dubai Economic Council. He received his PhD in Economics at North Carolina State University in 1975. He held several positions after graduation visiting assistant professor of Economics at NCSU, chief economist at the Organizations of Arab Producing and Exporting Countries, several leading positions at the Arab Monetary Fund starting in 1979, and, most recently, director of the Economic Policy Institute. He has published over thirty papers, authored a book on Arab economic integration and granted its publication rights to the Quds Open University in Amman, and edited eight books on various economic and financial topics. Ibrahim Ahmed Elbadawi is director of the Economic Policy Research Center at the Dubai Economic Council. Until February 2009, he was lead economist at the Development Research Group of the World Bank, which he joined in 1989; previously he was associated professor of Economics at the University of Gezira in Sudan. He holds a PhD in Economics and statistics from North Carolina State University and Northwestern University. His most recent edited book (with Samir Makdist) is Democracy in the Arab World: Explaining the Deficit (2010)

"This book is a panoramic in its scope and a guide to the one of the most opened economies in the Arab region, i.e. Dubai's economy. The repercussions of economic globalization and financial crisis on macroeconomic management, economic policies, oil market, financial system, and real estate are well analyzed and written. I recommend the book for those who have heard about Dubai's experience and want to know more in depth." - Ahmed Al Kawaz, professor of Economics, Arab Planning Institute-Kuwait'This volume comprises frontier research on the lessons and policy implications of the global crisis for the world at large and Dubai's development strategy and policies in particular. The book's original and policy-relevant contributions by world-known researchers add value to the understanding of the roots of the crisis and the required changes in macroeconomic, financial, and macro-prudential policies worldwide. The lessons drawn for GCC economies and for Dubai are based on deep knowledge about the latter economies and their exposure to the recent crisis. This timely volume should be read by international economists and Middle East policy makers alike.' - Klaus Schmidt-Hebbel, former chief economist of the OECD and professor of Economics at the Catholic University of Chile

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The Global Economic Crisis and Consequences for Development Strategy in Dubai

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Author Biography

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