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

Jarouf, Ahmed K. Al; Mansoori, Mohammed Al; Nooraddin, Suzan; Elshareif, Elgilani Eltahir

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

Date

2017

Authors

Jarouf, Ahmed K. Al

Mansoori, Mohammed Al

Nooraddin, Suzan

Elshareif, Elgilani Eltahir

Publisher

Springer Science and Business Media B.V.

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. © 2017, Springer International Publishing Switzerland.

Description

This conference paper is not available at CUD collection. The version of scholarly record of this paper is published in Leadership, Innovation and Entrepreneurship as Driving Forces of the Global Economy. Springer Proceedings in Business and Economics (2017), available online at: https://doi.org/10.1007/978-3-319-43434-6_67

Keywords

DFM’s performance, Global financial crisis, Oil price, US NASDAQ

Citation

Jarouf, A.K.A., Mansoori, M.A., Nooraddin, S. & Elshareif, E.E. (2017). The Assessment of the Global Financial Crisis on Dubai Financial Market Performance. In R. Benlamri & M. Sparer (Eds.) Leadership, Innovation and Entrepreneurship as Driving Forces of the Global Economy. Springer Proceedings in Business and Economics (pp. 749 - 759). Springer, Cham. https://doi.org/10.1007/978-3-319-43434-6_67

URI

https://doi.org/10.1007/978-3-319-43434-6_67
http://hdl.handle.net/20.500.12519/548

Collections

Finance

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