United Arab Emirates

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475505752
Size: 62.80 MB
Format: PDF
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This Selected Issues and Statistical Appendix Paper look at the global spillovers to the United Arab Emirates (UAE) financial system. It finds an uneven degree of spillovers to different segments of the UAE financial system. Regarding domestic equity markets, the combined market capitalization losses in the Abu Dhabi and Dubai stock exchanges between September 2008 and end-March 2012 exceeded $100 billion. The paper concludes that although financial vulnerabilities of the UAE have decreased since the 2008 global real estate collapse, given UAE’s interconnectedness, it remains exposed to global financial conditions.

United Arab Emirates

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1462375847
Size: 24.24 MB
Format: PDF, Docs
View: 2375
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Issues and statistical appendices are discussed. Government-related entities (GREs) have been a major source of growth and development for the United Arab Emirates (U.A.E.) economy. The global financial and economic crisis has, however, unveiled the fiscal and financial risks posed by GREs. The objective of this paper is to identify the risks posed by financially underperforming GREs. Policies to manage GREs are also explained, and policy responses to crisis are explained. Statistical appendices are included.

United Arab Emirates Selected Issues

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 149835470X
Size: 77.96 MB
Format: PDF, ePub
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This Selected Issues paper focuses on the real estate market and Expo 2020 in the United Arab Emirates. It discusses the measures that could mitigate risks associated with the real estate cycle and the international experience with real estate booms and hosting large events such as World Expos, Olympic Games, and World Cup tournaments. The paper discusses the recent developments in the segments of the real estate market in Abu Dhabi and Dubai, focusing on changes in sales prices, rents, and supply in the market. It also takes stock of measures the authorities have introduced recently to reduce the potential for speculative pressure in the real estate market.

United Arab Emirates

Author: Pilar García Martínez
Publisher:
ISBN: 9781475522075
Size: 64.44 MB
Format: PDF, Docs
View: 5593
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Government-related entities (GREs) continue to be a major source for growth and development for the UAE, but they also pose significant fiscal and financial risks as GRE’s debt remains high, though declining and actively managed. Across a sample of 53 companies with government ownership and publicly available information, panel regression estimates suggest that leverage depends mainly on firm characteristics but also on macroeconomic variables like government gross debt to GDP and global financial conditions which makes GREs vulnerable to external shocks in the current uncertain environment. To mitigate GREs risks, the authorities should build on recent progress and develop an integrated approach, including implementing prudent fiscal policies, enhancing macro and micro-prudential frameworks, controlling GREs borrowing and integrating them to the public debt management framework, and further strengthening corporate governance and transparency. --

United Arab Emirates

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1484349423
Size: 10.24 MB
Format: PDF, Kindle
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This Selected Issues paper on the United Arab Emirates highlights the macroprudential policies. The fixed exchange rate and persistent structural liquidity surpluses in upswings add to the difficulties in managing aggregate demand contain credit expansion. The exchange rate peg and the open capital account allow limited room to deviate from the U.S. interest rates. Monetary policy is further constrained by limited liquidity management capabilities, as liquidity forecasting is in its infancy, and central banks liquidity management relies primarily on reserve requirements and standing facilities for liquidity absorption. The lack of a local currency fixed-income market raises the prominence of real estate as an asset class for investment and the exposure of the banking system to the real estate sector.

The Wages Of Oil

Author: Michael Herb
Publisher: Cornell University Press
ISBN: 0801454689
Size: 14.65 MB
Format: PDF, Kindle
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The contrast between Kuwait and the UAE today illustrates the vastly different possible futures facing the smaller states of the Gulf. Dubai's rulers dream of creating a truly global business center, a megalopolis of many millions attracting immigrants in great waves from near and far. Kuwait, meanwhile, has the most spirited and influential parliament in any of the oil-rich Gulf monarchies. In The Wages of Oil, Michael Herb provides a robust framework for thinking about the future of the Gulf monarchies. The Gulf has seen enormous changes in recent years, and more are to come. Herb explains the nature of the changes we are likely to see in the future. He starts by asking why Kuwait is far ahead of all other Gulf monarchies in terms of political liberalization, but behind all of them in its efforts to diversify its economy away from oil. He compares Kuwait with the United Arab Emirates, which lacks Kuwait's parliament but has moved ambitiously to diversify. This data-rich book reflects the importance of both politics and economic development issues for decision-makers in the Gulf. Herb develops a political economy of the Gulf that ties together a variety of issues usually treated separately: Kuwait's National Assembly, Dubai's real estate boom, the paucity of citizen labor in the private sector, class divisions among citizens, the caste divide between citizens and noncitizens, and the politics of land.