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The response of Arab region to overcome global financial crisis
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
1End Page
8Number of Pages
8eISSN
2328-1235ISSN
0569-4345Publisher
SAGE PublicationsPublisher DOI
Language
enPeer Reviewed
- Yes
Open Access
- No
Acceptance Date
2020-06-07Era Eligible
- Yes