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
Journal Title
Journal ISSN
Volume Title
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
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