The Impact of COVID-19 on the Financial System of Middle Eastern Countries
Ημερομηνία
2026-01-27
Συγγραφείς
Rahmeh, Merwad
Τίτλος Εφημερίδας
Περιοδικό ISSN
Τίτλος τόμου
Εκδότης
Παραπομπή
Παραπομπή
Άδεια Creative Commons
Εκτός εάν σημειώνεται διαφορετικά, η άδεια αυτού του αντικειμένου περιγράφεται ως Attribution-NonCommercial-NoDerivatives 4.0 International
Περίληψη
Περίληψη
This dissertation was written as part of the MSc in International Accounting, Auditing and Taxation at the International Hellenic University.
The COVID-19 pandemic, declared by the World Health Organization (WHO) in March 2020, created an unprecedented global crisis that affected health systems, financial structures, and economic activities worldwide. For the Middle East and North Africa (MENA) region, where economic stability is closely tied to oil revenues, trade flows, and migrant labor, the pandemic produced a dual shock: a health emergency and a dramatic collapse in oil demand. Oil prices fell to historic lows in April 2020, intensifying fiscal pressure on both Gulf Cooperation Council (GCC) economies and non-GCC oil-importing countries.
Government and regulatory responses became central to managing this instability. Across the region, authorities introduced fiscal stimulus programs, monetary easing, liquidity support initiatives, and regulatory adjustments to preserve financial system resilience. These measures were critical in restoring market confidence and limiting the broader socioeconomic fallout.
This dissertation examines these policy responses through a qualitative comparative approach, identifying how governments and regulatory institutions shaped financial stability during the crisis. Drawing on literature related to oil price volatility, exchange rate movements, risk transmission, and labor market conditions, the study highlights the role of institutional agility and the ability of policymakers to react rapidly in times of disruption. The research ultimately establishes a conceptual pathway showing how government action mediates market behavior and financial resilience during systemic shocks.
This dissertation was completed under the supervision of Dr. Antonios Chantziaras, whose guidance, academic insight, and constructive feedback were essential throughout the research process. I also acknowledge the scholars and researchers whose published work informed this study, as well as colleagues and peers who offered valuable discussions and support during its development. Their contributions helped strengthen the analysis and overall quality of this research.