Financial crisis of 2008 and its impact on the economies of the Middle East countries

The 2008 financial crisis had a tremendous influence on the world economy, and Middle Eastern countries were not immune. This thesis intends to give a comprehensive assessment of the economic consequences of the financial crisis on the MENA region, assess the success of these nations' policy responses in mitigating the crisis's negative effects, and conduct a comparative analysis of the policies of various Middle Eastern governments. This study hypothesizes that the degree of economic diversification and political systems in Middle Eastern and North African countries influenced the extent of the 2008 financial crisis's impact and the effectiveness of policy responses, with more diversified economies and flexible political systems experiencing a lower negative impact and more successful policy interventions. According to the research findings, the degree of economic diversity and political systems in Middle Eastern and North African countries influenced the magnitude of the 2008 financial crisis's impact and the efficiency of policy responses. Countries with more diverse economies and flexible political systems fared better throughout the crisis and were able to undertake more effective policy measures. This thesis contributes to a better understanding of the 2008 financial crisis's impact on the MENA area, as well as vital information for policymakers seeking to prevent the detrimental consequences of future financial crises.