This paper employs extreme downside risk measures to estimate the impact of the global financial crisis in 2008/2009 on equity markets in major oil producing Middle East countries. The results in the paper indicate the spillover effect of the global crisis varied from a country to another, but...

The economic and financial crisis of 2008 disrupted the European Union’s (EU) enlarge­ment policy for the Western Balkans. At least since that time, the region has seen greater involvement by economic actors from non-EU countries such as China, Russia, Turkey and the United Arab Emirates...