The Impact of the Financial Crisis on the Real Estate Market in Dubai and Spain
Dr. Nur Ata Nurcan was interviewed by Ara news paper, a daily Catalan news paper based in Barcelona on June 15, 2012. Dr. Nurcan answered questions on the differences between the housing market crashes in Dubai and Spain following the financial crisis, credit channels for non-nationals in Dubai, regulatory reforms such as the draft UAE Financial Restructuring and Bankruptcy Law, plans for establishment of a new agency to oversee consumer financial protection and a federal credit bureau. She also commented on the behavioral economics research which questions whether individuals are always rational when making financial decisions, influence of academic research on policy-making in the UAE, oil subsidies in the region, and finally how well the residents cope with the fast changing economic and social environment.