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Munadil K. Faaeq munadil@uum.edu.my


Abstract

The issue of the global financial crisis that hit the world economy since August 2007 was one of
the worst economic crises after the Great Depression of 1929. This crisis was not the result of the
moment, but the most important of which is the negative impact of the Asian financial crisis in
1997 and the crisis of the information technology sector in 2000, This crisis has caused the rest of
the world due to interdependence. The recurrence of financial crises in developing countries is a
worrying phenomenon that has threatened the economic and political stability of the countries
concerned. The global economy is currently facing a real financial crisis that has hit the economies
of developed and developing countries alike, starting in 2008 and emerging in 2008.
The American financial crisis reflected on most of the economies of the world so that it became
implicated in the global financial crisis. As the Arab countries are part of the global economic
system, they will be negatively affected by this crisis. It is certain that the degree of their influence


varies among the Arab countries according to their degree of integration and integration into the
global economy. Therefore, stepping out of them requires the intensification of the international
efforts to review the international monetary system, giving all countries the full economic and
political freedom to choose to link their currencies to an internationally agreed basket of
currencies .
The researcher tried here to explain how the global financial crisis has an impact on the economies
of developing countries. The research section is divided into three sections. The first topic dealt
with the global financial crisis in terms of concept, definition, characteristics and what types. The
second topic dealt with the causes of the financial crisis and what are the positive and negative
effects And the third topic dealt with the effects of the global financial crisis in the economies of
developing countries, and concluded the research with a set of conclusions and recommendations

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How to Cite
Faaeq, M. K. (2018). Hind S. E. The Global Financial Crisis, Its Causes and Effects In The Economies Of Developing Countries. Al-Kitab Journal for Human Sciences, 1(1), 83–95. https://doi.org/10.32441/kjhs,1.1.08