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ABSTRACT. The current global financial and economic crisis is almost unanimously considered as the most serious shock to the global economy since the 1930s Great Depression. Though this crisis originated from advanced economies, its consequences are global, especially for emerging economies that are highly integrated into the global economy. Imbalance in the world trade, US consumption pattern, and world dependency on the US $ currency, and the complex US financial derivatives market, were among the leading factors for the crisis. This paper sheds light on the emerging global regulatory framework and present financial status of the United Arab Emirates (UAE) in general and Abu Dhabi in particular after combating recession. It also discusses the long term development strategy for the UAE in the post crisis global economy. pp. 82-97
JEL: O5, G00

Keywords: financial crisis, Abu Dhabi, oil, Abu Dhabi Economic Vision 2030, United Arab Emirates

FAUZIA JABEEN
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Abu Dhabi University
MARIOS I. KATSIOLOUDES
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Abu Dhabi University

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