Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead: An Update
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- Synopsis
- The GCC countries performed well during the 2003-08 oil boom, but the boom also presented challenges. Buoyant economic activity, rising consumer and investor confidence, and abundant liquidity spurred excessive credit growth, inflation, and asset price increases. In addition, in some countries, banks' growing dependence on foreign financing and exposure to real estate, construction lending, and--to a lesser extent--the equity market, contributed to balance sheet vulnerability in the event of a slowdown in economic growth and a decline in asset prices. In the corporate sector, the boom was associated with higher leverage, which increased the sector's vulnerability to the availablitity and cost of financing.
- Copyright:
- 2010
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9781455287994
- Publisher:
- International Monetary Fund
- Date of Addition:
- 11/30/12
- Copyrighted By:
- International Monetary Fund
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.