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The Effect Of The Financial Crisis On The Middle East, Isam Salah
The Effect Of The Financial Crisis On The Middle East, Isam Salah
Global Business Law Review
The impact of the world economic crisis on the Middle East, and in particular on the countries of the GCC, was similar to the impact elsewhere in the West − collapse of the real estate sector, credit constraints, and economic contraction. The reaction of governments of the GCC was similar to the reaction of governments in the West − support of financial institutions and provisions of liquidity to the financial markets. Islamic finance has established itself as an important component of the commercial and financial sectors in these countries, so it is interesting to examine whether this segment of the …
Piigs, Itraxx Soyx, Neoliberalism, And Unshackled Finance Capital, Tayyab Mahmud Ph.D.
Piigs, Itraxx Soyx, Neoliberalism, And Unshackled Finance Capital, Tayyab Mahmud Ph.D.
Global Business Law Review
Banking and finance play a critical role in the economy by channeling savings towards productive investments. By the early twentieth century the lessons were learned that, left to its own devices, finance capital tends towards unbridled speculation and ends up playing havoc with the economy. The collective response was a Keynesian compromise whereby finance capital was regulated both nationally and internationally to put a check on speculation and to channel it to support the productive economy. The result was an extended period of economic growth and stability. Over the last thirty years, the neoliberal counter revolution reversed these regimes and …