Dubai financial crisis: causes, bailout and after - a case study
AbstractThis paper explains the circumstances that led Dubai to the current financial crisis that still lingers. It analyses the steps taken at various stages by the city state to ameliorate the situation including the bailout help the UAE Government eventually granted. It spotlights the role international rating agencies played in aggravating the situation and demands that their activities be brought under regulatory nets now being strengthened across the world in the context of ongoing global meltdown. Finally, it warns of challenges Dubai may be facing in years ahead and what could be done to pre-empt them. The argument is cast with a backdrop of the economic position of UAE in the Middle-East and happenings at the global level in the arena of finance – mainstream and Islamic.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 26397.
Date of creation: Jul 2010
Date of revision:
Publication status: Published in Journal of Islamic Banking & Finance 3.27(2010): pp. .47-55
Islamic finance; Global meltdown; Dubai crisis; Rating agencies; financial architecture.;
Find related papers by JEL classification:
- J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-20 (All new papers)
- NEP-ARA-2010-11-20 (MENA - Middle East & North Africa)
- NEP-FMK-2010-11-20 (Financial Markets)
- NEP-HIS-2010-11-20 (Business, Economic & Financial History)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hasan, Zubair, 2010.
"Islamic Finance:Sructure-objective mismatch and its consequences,"
21536, University Library of Munich, Germany.
- Hasan, Zubair, 2010. "Islamic Finance:Structure-objective mismatch and its consequences," MPRA Paper 21726, University Library of Munich, Germany.
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