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The response of Arab region to overcome global financial crisis

journal contribution
posted on 21.06.2021, 02:55 authored by Omar AzizOmar Aziz
The main objective of this study is to analyze the policies adopted by Arab countries to recover from the global financial crisis (GFC) in 2008. The study highlights the fiscal and monetary policies that were applied by Arab countries to maintain economic activity. The study shows that Arab countries primarily relied on a mix of fiscal policies to stimulate the economy. As a result, the accumulated oil revenues enabled them to respond quickly, preventing a deeper deceleration in growth and also supporting a growth rebound. However, for countries with limited fiscal space, macroeconomic and oil revenue management became more challenging. Strategies aimed at increasing non-oil sources of growth are recommended to help reduce the vulnerability of these countries to excessive oil price volatility. JEL Classifications: E520, E620, O40, P470

History

Start Page

1

End Page

8

Number of Pages

8

eISSN

2328-1235

ISSN

0569-4345

Publisher

SAGE Publications

Language

en

Peer Reviewed

Yes

Open Access

No

Acceptance Date

07/06/2020

Era Eligible

Yes

Journal

The American Economist

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