Financial Sustainability During Economic Slowdown: An evaluative study on the Public Debt of the Government of Dubai

Running head: Doctorate research proposal
DOCTORATE RESEARCH PROPOSAL
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1Doctorate research proposal
Table of Contents
1.0 Title of the project.....................................................................................................................2
2. Overview and significance of the proposed study.......................................................................3
3. Rationale of the study..................................................................................................................4
4. Aim and Objectives.....................................................................................................................4
5. Literature Review........................................................................................................................6
6. Research Design..........................................................................................................................6
7. Methodology................................................................................................................................7
8. Ethical issues...............................................................................................................................8
9. Assumed Outcomes.....................................................................................................................8
10. Implications.............................................................................................................................10
11. Expected Timescale.................................................................................................................12
Reference list.................................................................................................................................13

2Doctorate research proposal
1.0 Title of the project
Financial Sustainability During Economic Slowdown: An evaluative study on the Public Debt of
the Government of Dubai

3Doctorate research proposal
2. Overview and significance of the proposed study
The study is going to analyze deeply the development of sustainability in the government
policy during the period of economic slowdown in the country of United Arab Emirates. More
than 10 years have been passed from the Global Financial crisis that took place in the year 2008-
2009. The Gulf Cooperation Council (GCC) is not immune to the global financial crisis and they
became more exposed to foreign direct investment mostly in the oil industry. Even today, the
gulf countries is depending largely on the oil exports and oil investments and are vulnerable to
the economic shocks in price and quantity. In 2017, the oil exports and revenues accounted for
more than 34% of total exports and 43% of government revenues dependent on oil exports
(Nassersaidi.com, 2019). The significance of the study is that the economy of Dubai is more
vulnerable because of international as well as region-specific and domestic shocks the economy
has received. Buoyant economic activity, supported by the oil price boom of 2003-08, rising
consumer and investor confidence, and abundant liquidity led to credit growth, inflation, and
asset price inflation, including real estate has forced the economy to face more vulnerability.
The main overview of this study is to identify the government policy regarding the
minimization of the public debt. The study will also highlight further, how the economy is taking
counter attacking policies regarding the vulnerability in the global financial crisis. On the other
hand, the overall economic performances that has been done by UAE has seen uprisings of the
capital growth in the private sectors by 51% in 2008 compared to only 40% in 2007 and this is
mainly due to economic boom and negative real interest rate (Nassersaidi.com, 2019). About $39
billion of GCC debt (half from the UAE) was maturing, to be repaid or refinanced in 2009, at a
time when liquidity had evaporated from the international and regional markets
(Nassersaidi.com, 2019).