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Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE

Florian Gerth (floriangerth@uowdubai.ac.ae), Vikash Ramiah, Elissar Toufaily and Glenn Muschert
Additional contact information
Florian Gerth: University of Wollongong in Dubai
Vikash Ramiah: University of Wollongong in Dubai
Elissar Toufaily: American University in Dubai
Glenn Muschert: Khalifa University of Science and Technology

Journal of Financial Services Marketing, 2021, vol. 26, issue 4, No 3, 215-225

Abstract: Abstract Covid-19 has affected the global economy, influencing firm and household financial decisions worldwide. The Central Bank of the United Arab Emirates (CBUAE) released an AED 256 billion stimulus package to provide banks with sufficient capital to support economic activities and development by providing temporary relief to large corporations, small- and medium-sized enterprises, and households. New financial products have rapidly appeared, including relief packages for rent, mortgages, personal loans, credit cards, SMEs, and corporate entities. Regression analysis explores the effect of such relief packages on UAE firm and household finances. Using online survey data gathered via convenience sampling of UAE households, econometric analysis confirms that select demographic factors and financial instruments positively relate to effective financial decision-making. Our results guide policymakers on which relief packages effectively manage firm-level and household financial distress during a health pandemic.

Keywords: Covid-19; Financial Recovery; Products Innovations; Relief Packages; Household Finance; Financial Planning (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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DOI: 10.1057/s41264-021-00098-w

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