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The Assessment of the Global Financial Crisis on Dubai Financial Market Performance

In: Leadership, Innovation and Entrepreneurship as Driving Forces of the Global Economy

Author

Listed:
  • Ahmed K. Al Jarouf

    (Canadian University of Dubai)

  • Mohammed Al Mansoori

    (Canadian University of Dubai)

  • Suzan Nooraddin

    (Canadian University of Dubai)

  • Elgilani Eltahir Elshareif

    (Canadian University of Dubai)

Abstract

The United Arab Emirates (UAE) has implemented its long-term vision 2021. The main goal of this vision is to diversify the economic activity to edge up on the back of non-oil sector, despite the fact that UAE’s economy is considered one of the most diversified economies across the region. The significant drop in oil prices in addition to performances of other global markets represents a challenge for Dubai stock market. This may have an important effect on the share prices of Dubai stock market and its performance. In this chapter, we collect market data for oil prices, US NASDAQ Composite, and DFM from the official website of Dubai Financial Market ( www.dfm.ae ) and ( www.nasdaq.com ) to explore the patterns of pre-after the global financial crisis performance and to observe the performance of the Dubai financial market in comparison to NASDAQ. We also look at the impact of drop in oil price on the performance of DFM. Our results support that the DFM performed well after the crisis. However, the lower oil prices have reversed this situation.

Suggested Citation

  • Ahmed K. Al Jarouf & Mohammed Al Mansoori & Suzan Nooraddin & Elgilani Eltahir Elshareif, 2017. "The Assessment of the Global Financial Crisis on Dubai Financial Market Performance," Springer Proceedings in Business and Economics, in: Rachid Benlamri & Michael Sparer (ed.), Leadership, Innovation and Entrepreneurship as Driving Forces of the Global Economy, chapter 0, pages 749-759, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-43434-6_67
    DOI: 10.1007/978-3-319-43434-6_67
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