Abstract
At the beginning of the 1990s, oil continued to exert disproportionate influence in shaping not only the global economy, but also geopolitics. The interruption during the first Gulf War to the global supply of crude oil from the Persian Gulf Region was a major concern to financial markets. While Nigeria, a key member of the Organisation of the Petroleum Exporting Countries (OPEC), benefited from a rise in crude oil price, this contributed to a mild recession in many economies, including the US.
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© 2015 Yomi Makanjuola
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Makanjuola, Y. (2015). Prelude to the Financial Crisis in 2009. In: Banking Reform in Nigeria. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-49353-8_3
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DOI: https://doi.org/10.1007/978-1-137-49353-8_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-69705-2
Online ISBN: 978-1-137-49353-8
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