This book identifies and addresses the impacts of the global financial crisis on Dubai and the region. The issues are highlighted and analyzed by a group of distinguished scholars. Specifically, discussions are focused on the following four interrelated issues: Why and how the financial crisis happened and what are its consequences for the economies of the Middle East? Defining the emerging global regulatory framework and the new financial architecture; The long term development strategy for the UAE / Dubai in the post crisis global economy; and The oil market and the global financial crisis

Introduction; A.Tawfik Al Sadik & I.Elbadawi Strengthening the Financial Architecture: The Unanswered Questions; B.Eichengreen The Oil Market and the Financial Crisis; R.E.Mabro The Global Crisis: Old and New Lessons for Macroeconomic Policy; A.Tawfik Al Sadik & L.Serven Financial Crises and Real Estate Bubbles: Dynamics and Policy Responses in Dubai; B.Renaud Sources of Economic Growth and Development Strategy in Dubai; I.A.Elbadawi and R.Soto A Long-Term Strategy for Dubai Building on Innovation and Clusters; O.Solvell

Includes bibliographical references and index.