Publisher's Synopsis
The world economy is still suffering the crisis, considered the most severe since the Great Depression, where economic downturn at historic magnitude and many countries across the globe, irrespective of their development level, are still under strain dealing with this crisis. The severe global crisis that has spilled from the financial sector to the real economy, including international trade in manufactures, commodities and services. The onset of the present crisis can be traced back to July 2007 with the liquidity crisis. The hope was that the crisis would be restricted to financial markets, with few repercussions on the real economy and the rest of the world. This hope was shattered in September 2008 as the crisis entered an acute phase, with strong downward fluctuations in the stock markets, substantially reduced rates of economic growth, volatile exchange rates, and squeezes in demand and consumption, leading to falls in industrial production and decreasing flows of international trade and FDI, and causing impacts on related areas such as transfer of technology. This book aims to study the global financial crisis and its impact on the Arab economics . To do so, it first presents an overview of the causes and consequences of the current turbulence, followed by an assessment of the depth of the crisis and its implications for the Arab economy, including the financial sector, balance of payments and the state budget. In addition, the book highlights the actions taken by the governments to cope with the effects of the crisis on the Arab economics and concludes with some recommendations on steps to handle this crisis.
