أثر الأزمة المالية العالمية على الأسواق المالية العربية (أسواق الخليج العربي أنموذجاً)

Rp-The impact of the global financial crisis of 2008 on the Arab financial markets, the Gulf Arab markets model.pdf

Summary
The study of financial crises and their impact on financial markets is one of the important topics that attract the attention of international forums and academic institutions, considering that the financial crisis is a recurring and unexpected economic phenomenon whose direct and rapid impact is reflected on the financial markets. (Gulf markets as a model) in the following questions: First: Does the global financial crisis have an impact on global financial markets? What is the nature of this effect?. Second: Does the global financial crisis have an impact on the Gulf financial markets? : Is there an impact and correlation relationship between the global financial markets and the Gulf markets? What is the nature of this effect and correlation?
As for the most important hypotheses of the research, they are: There is an impact and correlation between the American financial markets and the Gulf financial markets. The most important goal of the study is to know the impact of the financial crisis on the American financial markets and the Gulf financial markets through the study of stock price indices, and with regard to spatial boundaries, the research included six Gulf financial markets are the Saudi market, Dubai market, Abu Dhabi market, Qatar market, Muscat market, Bahrain market, in addition to the US financial markets. As for the time limits covered by the study, it extends from January 2007 to December 2009. The most important statistical methods used in the study are the standard deviation, simple correlation, simple regression, and multiple regression.
In its theoretical aspect, the study concluded that financial crises are a dangerous economic phenomenon that is inherent in capitalist economic systems and that there is no specific explanation for the financial crisis. Supervision of banks and financial institutions.
In its practical aspect, the study concluded that the financial crisis had a significant impact on the American and Gulf financial markets, but its impact on the Gulf financial markets, with the exception of the Bahrain financial market, was greater than its impact on the American financial markets. The study also showed that there is a correlation between the price indicators of the Gulf financial markets. And the price indices of American financial markets, as well as the financial crisis had a mixed impact on all sectoral indicators of the Gulf financial markets, except for the index of the hotel and tourism sector in the Bahrain Financial Market, which was not affected by the financial crisis.
The study concluded that addressing financial crises in Arab countries in order to prevent their occurrence or reduce their damage and treat them requires Arab governments to find economic legislation that improves oversight processes over banks, financial institutions and financial markets with legalization and control of foreign investment, and also requires spreading investment awareness among the public in order to rationalize Their investment behavior in periods of financial crises. In conclusion, we cite the words of John Rockfeller, the world’s richest man, who said during the crisis of 1929, “During my ninety-three years of age, I witnessed cases of economic stagnation that go and come back, and periods of growth were always followed by periods of growth, and this growth will return.”