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Stock Market Developments In The Countries Of The Gulf Cooperation Council
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Book Synopsis Stock Market Developments in the Countries of the Gulf Cooperation Council by : Ahsan Mansur
Download or read book Stock Market Developments in the Countries of the Gulf Cooperation Council written by Ahsan Mansur and published by Palgrave MacMillan. This book was released on 2008-10-31 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book provides an analysis of the structural strengths and weaknesses of the Gulf stock markets and the appropriateness of policies implemented. It examines the effect of the 2006 correction on financial stability and economic growth and explains the differences in performance of some regional markets. This research integrates for the first time under a homogenous methodology the systematic analysis of all stock markets in the Gulf, identifies common trends and causes for differential behaviour and constitutes a key contribution toward the understanding of the functioning of the Gulf stock exchanges by domestic and foreign investors."--BOOK JACKET.
Book Synopsis Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models by : Nidhaleddine Ben Cheikh
Download or read book Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models written by Nidhaleddine Ben Cheikh and published by International Monetary Fund. This book was released on 2018-05-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results reveal that GCC stock markets do not have similar sensitivities to oil price changes. We document the presence of stock market returns’ asymmetric reactions in some GCC countries, but not for others. In Kuwait’s case, negative oil price changes exert larger impacts on stock returns than positive oil price changes. When considering the asymmetry with respect to the magnitude of oil price variation, we find that Oman’s and Qatar’s stock markets are more sensitive to large oil price changes than to small ones. Our results highlight the importance of economic stabilization and reform policies that can potentially reduce the sensitivity of stock returns to oil price changes, especially with regard to the existence of asymmetric behavior.
Book Synopsis Saudi Capital Market by : Bader Alkhaldi
Download or read book Saudi Capital Market written by Bader Alkhaldi and published by Kluwer Law International B.V.. This book was released on 2016-11-24 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thriving capital market, one that not only brings investment funds into a country but also distributes profits in a transparent manner, is essential for any economy, especially a rapidly developing one such as Saudi Arabia. Already a key player on the world stage, the Kingdom is going through a major planned economic transformation and diversification. In particular, a robust and transparent capital market, with a high level of integrity and sound enforcement, is well on the way to fruition. This book is the first in English to analyse and evaluate the roles of economic planning and a capital market in Saudi Arabia’s economic modernization. In the process of examining the level of transparency and fairness in Saudi Arabia’s capital market, the author provides detailed information and analysis of such issues and topics as the following: – market disclosure rules; – insider trading laws; – gaps in enforcement; – dispute resolution; – role of securities agencies; – Saudi Arabia’s position in international organizations; and – repercussions of the 2006 Saudi stock market collapse. The author draws on a wide range of sources in both English and Arabic, and concludes with well-grounded proposals for appropriate judicial, administrative, and enforcement policies. Investors, their management and attorneys, and other advisors with an eye on trade development in the Middle East will derive great benefit from the current and detailed information in this book. Lawyers and policymakers will discover all they need to know about the Saudi capital market, its developing trends, and applicable laws.
Book Synopsis Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead by : Ms.May Y Khamis
Download or read book Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead written by Ms.May Y Khamis and published by International Monetary Fund. This book was released on 2010-07-21 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.
Book Synopsis Fostering Human Capital in the Gulf Cooperation Council Countries by : Sameh El-Saharty
Download or read book Fostering Human Capital in the Gulf Cooperation Council Countries written by Sameh El-Saharty and published by World Bank Publications. This book was released on 2020-07-08 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: The formation of human capital--the knowledge, skills, and health that people accumulate over their lifetimes--is critical for the six Gulf Cooperation Council (GCC) countries. Human capital contributes not only to human development and employment but also to the long-term sustainability of a diversified economic growth model that is knowledge based and private sector driven. This approach is critical, given that income from oil and gas will eventually decline and that the nature of work is evolving in response to rapid technological changes, in turn demanding new skill sets. The GCC governments have demonstrated their strong political will for this shift: four of them are among the first countries to join the World Bank’s Human Capital Project—a global effort to improve investments in people as measured by the Human Capital Index. The GCC countries face four main challenges: • Low levels of basic proficiency among schoolchildren • A mismatch between education and the labor market • A relatively high rate of adult mortality and morbidity • A unique labor market , in which wages in the public sector are more generous than in the private sector and government employment of nationals is virtually guaranteed To address these challenges, this report outlines four strategies in a“whole-of-government†? approach: • Investing in high-quality early childhood development • Preparing healthier, better educated, and skilled youth for the future • Enabling greater adult labor force participation • Creating an enabling environment for human capital formation These strategies are based on best practices in other countries and feature some of the GCC countries’ plans, including their national “Visions,†? to take their economies and societies further into the twenty-first century. With the COVID-19 pandemic, the GCC countries face additional challenges that may worsen some preexisting vulnerabilities and erode human capital. In response, the GCC governments have taken multiple measures to protect their populations’ health and their economies. Any country’s decision to reopen its economy needs to closely consider public health consequences to avoid a resurgence of infections and any further erosion of its human capital. The COVID-19 crisis underscores that the need to accelerate and improve investment in human capital has never been greater. Once the GCC countries return to a “new normal,†? they will be in a position to achieve diversified and sustainable growth by adopting, and then tailoring, the strategies presented in this report.
Book Synopsis Gulf Cooperation Council Countries (GCC) by : International Monetary Fund
Download or read book Gulf Cooperation Council Countries (GCC) written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-12-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Financial systems in the GCC have developed significantly over the last couple of decades, but there appears to be further room for progress. The development of bank and equity markets has been supported by a combination of buoyant economic activity, a booming Islamic finance sector, and financial sector reforms. As a result, financial systems have deepened and, overall, the level of financial development compares well with emerging markets. However, it still lags advanced economies and, other than for Saudi Arabia, appears to be lower than would be expected given economic fundamentals, such as income levels. Financial development in the GCC has relied to a large extent on banks, while debt markets and nonbank financial institutions are less developed and access to equity markets is narrow. The non-bank financial institutions—pension funds, asset management and finance companies, and insurance—remain small. Domestic debt markets are underdeveloped. While equity markets appear to be well developed by market size, they are dominated by a few large (and often public-sector) companies. GCC countries have made progress on financial inclusion, but gaps remain in some important areas. Access to finance for SMEs, women, and youth, in particular, appears relatively low. This may partly reflect social norms, low levels of participation of women in the labor market and private sector activity, and the high level of youth unemployment. Further financial development and inclusion is likely to be associated with stronger economic growth in the GCC countries. While there is uncertainty surrounding the empirical estimates in the paper, further progress with financial development and/or inclusion is likely to go hand-in-hand with stronger growth. The growth benefits, however, are likely to vary across countries depending on the current level of financial development and inclusion. To realize these growth benefits, reforms to strengthen access to finance for SMEs, women, and youth are needed. Addressing institutional weaknesses and promoting financial sector competition would help boost access to finance for SMEs. Reforms to enhance financial literacy and improve SME governance structures and insolvency frameworks are critical. Other reforms encouraging female and youth employment and the use of emerging technologies in finance also appear promising. Additional reforms to foster financial development should focus on developing debt markets and making stock markets more accessible to a larger pool of companies and investors. To grow domestic debt markets, the authorities should develop a government yield curve, seek to increase market liquidity through secondary market trading, and ensure requirements for private issuance are not onerous. Stock market reforms should focus on enhancing corporate governance and investor protection, removing restrictions on foreign ownership, and encouraging financial market competition. The latter would also help the development of non-bank financial institutions."
Book Synopsis Stock Markets in GCC Countries: Risk and Volatility Analysis by : Ibrahim Onour
Download or read book Stock Markets in GCC Countries: Risk and Volatility Analysis written by Ibrahim Onour and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of events that have been occurring in the past few years highlight the importance of capital markets in Gulf Cooperation Council (GCC) countries. As GCC capital markets became increasingly open to foreign investors in the past few years, they become more vulnerable to shocks in international markets, and thus more volatile. Also, the increasing cointegration among GCC markets increased the spillover effect of regional shocks, which in turn contributed towards increasing volatility in these markets. It is also to be noted that due to lack of sound regulatory policy in some of these markets, hyping, dumping and rumours become the main driving forces behind the frequent changes in stock prices. In addition, as GCC economies depend largely on crude oil revenue, volatility in oil prices in the past few years fuelled extreme stock price changes. The book combines research papers related to these type of issues.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557757128 Total Pages :60 pages Book Rating :4.7/5 (571 download)
Book Synopsis Financial Systems and Labor Markets in the Gulf Cooperation Council Countries by : International Monetary Fund
Download or read book Financial Systems and Labor Markets in the Gulf Cooperation Council Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-11-11 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume comprises two separate papers on key structural aspects of the reform process in the Gulf Cooperation Council countries. The first paper addresses issues related to financial intermediation and reform in the context of the evolving economic environment in the GCC countries. The second discusses the labor market challenges and policy issues in the GCC countries and their implications for the Middle East and North Africa (MENA) region.
Book Synopsis The Impact of Business and Political News on the GCC Stock Markets by : Alanoud Al-Maadid
Download or read book The Impact of Business and Political News on the GCC Stock Markets written by Alanoud Al-Maadid and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.
Book Synopsis Gulf Cooperation Council Countries (GCC) by : Samya Beidas-Strom
Download or read book Gulf Cooperation Council Countries (GCC) written by Samya Beidas-Strom and published by . This book was released on 2011-10-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.
Book Synopsis Economic Diversification in the GCC by : Mr.Tim Callen
Download or read book Economic Diversification in the GCC written by Mr.Tim Callen and published by International Monetary Fund. This book was released on 2014-12-23 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.
Book Synopsis The Gulf Cooperation Council by : Linda Low
Download or read book The Gulf Cooperation Council written by Linda Low and published by Institute of Southeast Asian Studies. This book was released on 2011 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gulf Cooperation Council (GCC) is comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Possessing a significant share of the world's oil and gas reserves and including some of the world's fastest growing economies, the GCC is a significant regional grouping. As with the Association of Southeast Asian Nations (ASEAN), the Council has made significant progress towards economic integration. Seeking to draw out lessons applicable to ASEAN, this report looks at the structure and evolution of the GCC. This includes the context within which the Council was established, its rationale, and economic importance. It then follows the organization's development over time, paying particular importance to its progress from Customs Union and Common Market towards Monetary Union. The report then sets out the key challenges ahead for the Council, and concludes by highlighting the structural, organizational, and political lessons that resonate with ASEAN and its membership.
Book Synopsis The GCC Banking Sector by : Abdullah Al-Hassan
Download or read book The GCC Banking Sector written by Abdullah Al-Hassan and published by International Monetary Fund. This book was released on 2010-04-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we analyze the evolution of the Gulf Cooperation Council (GCC) banking sectors in the six member countries including ownership, concentration, cross-border linkages, balance sheet exposures and risks, recent trends in credit growth, and financial soundness. We identify risks to the banking sector's financial stability in the context of the current global crisis and their mitigating factors.
Book Synopsis Stock Markets Dynamics in Oil-Dependent Economies by : Wafaa Sbeiti
Download or read book Stock Markets Dynamics in Oil-Dependent Economies written by Wafaa Sbeiti and published by . This book was released on 2013 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between stock prices and main macroeconomic variables (i.e. oil prices, short-term interest rate and domestic credit) that are believed to affect stock prices in the context of the Gulf Cooperation Council (GCC) markets. For this purpose, this paper employed recent time series techniques of cointegration and Granger causality tests. The multivariate cointegration tests identified that oil prices, interest rates and domestic credit have long-term equilibrium effects on stock market prices in four GCC countries. In addition, the Granger causality test highlighted that the causality is running from oil prices to the stock price index in the case of Kuwait, Saudi Arabia and Oman. Also, the causal flow from the domestic credit to the index has been found in the case of Kuwait and Saudi Arabia; while the interest rate has causal effect on the stock price index in the case of Saudi Arabia, Bahrain and Oman. Further assessment of the relationship between these variables, based on generalised variance decomposition and generalised impulse response functions, reveals the importance of oil prices in explaining a significant part of the forecast error variance of the index in Kuwait, Saudi Arabia and Oman. Most of the variations in the stock prices can be captured by innovations in the three selected variables. Therefore, the causal relationship that macroeconomic variables granger caused stock prices are quantitatively supported by innovation analysis.
Book Synopsis Gulf Cooperation Council (GCC) - Economic Prospects and Policy Challenges for the GCC Countries by : International Monetary Fund
Download or read book Gulf Cooperation Council (GCC) - Economic Prospects and Policy Challenges for the GCC Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-10-16 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The already sluggish global recovery has suffered new setbacks and uncertainty weighs heavily on prospects. The euro area crisis intensified in the first half of 2012 and growth has slowed across the globe, reflecting financial market tensions, extensive fiscal tightening in many countries, and high uncertainty about medium-term prospects. Activity is forecast to remain tepid and bumpy, with a further escalation of the euro-area crisis or a failure to avoid the “fiscal cliff” in the United States entailing significant downside risk.
Book Synopsis State-space Models with Regime Switching by : Chang-Jin Kim
Download or read book State-space Models with Regime Switching written by Chang-Jin Kim and published by Mit Press. This book was released on 1999 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Both state-space models and Markov switching models have been highly productive paths for empirical research in macroeconomics and finance. This book presents recent advances in econometric methods that make feasible the estimation of models that have both features. One approach, in the classical framework, approximates the likelihood function; the other, in the Bayesian framework, uses Gibbs-sampling to simulate posterior distributions from data.The authors present numerous applications of these approaches in detail: decomposition of time series into trend and cycle, a new index of coincident economic indicators, approaches to modeling monetary policy uncertainty, Friedman's "plucking" model of recessions, the detection of turning points in the business cycle and the question of whether booms and recessions are duration-dependent, state-space models with heteroskedastic disturbances, fads and crashes in financial markets, long-run real exchange rates, and mean reversion in asset returns.
Book Synopsis Regional Financial Integration in the GCC by : Mr.Raphael A. Espinoza
Download or read book Regional Financial Integration in the GCC written by Mr.Raphael A. Espinoza and published by International Monetary Fund. This book was released on 2010-04-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the extent of regional financial integration in the member countries of the Gulf Cooperation Council. The limited volume data available suggests that regional integration is non-negligible. Bahrain and Kuwait investments especially are oriented towards the region. The development of stock markets in the region will also improve the extent of financial integration. Interest rate data shows that convergence exists and that interest rate differentials are relatively short-lived-especially compared to the ECCU, another emerging market region sharing a common currency. Equities data using cross-listed stocks confirms that stock markets are fairly integrated compared to other emerging market regions, although financial integration is hampered by market illiquidity.
