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| Author | : Hazem Ali Marashdeh |
| Publisher | : |
| Total Pages | : 522 |
| Release | : 2006 |
| Genre | : Efficient market theory |
| ISBN | : |
| Author | : Henry T. Azzam |
| Publisher | : AuthorHouse |
| Total Pages | : 158 |
| Release | : 2015-08-28 |
| Genre | : Business & Economics |
| ISBN | : 150493282X |
The book aims to unravel the potentials of Middle East financial markets, which are spread over a large and wealthy part of the world. These markets are gradually being opened for international investors seeking diversification and rewarding risk adjusted returns. However, opening up to international investors is a necessary but not a sufficient condition to attract institutional money needed to provide depth and professionalism to these markets. Without a cultural shift towards more transparency, better regulations and governance, and the availability of custody, clearance and equity research, up to international best practice, not much institutional money will be forthcoming to the region. Funding sources in the Middle East and North Africa Region are still predominantly channeled through the banking system, with equity and fixed income markets playing a marginal role. While the worlds financial markets show on average a balanced structure of bank assets, stock market capitalization and debt securities, the capital mix in the region is heavily skewed towards bank assets with a share of 58.8%, equities around 34% and debt securities (bonds and Sukuk) 7.2%. Stock markets of the UAE and Qatar have recently been upgraded to emerging market status, which together with Egypt are the only three Arab countries that have selected listed companies featuring in the Morgan Stanley Capital Index for Emerging Markets (MSCI EM). Saudi Arabia has opened its stock market to direct investment by foreign financial institutions in the second half of 2015. The opening of the Saudi stock market is a major positive development for the regions capital markets. The path ahead for MENA finance has become now clearer. The relative weight of commercial banks in the financial system will diminish gradually, and a wider range of financial services will be provided by deeper and increasingly more sophisticated debt and equity capital markets, in line with worldwide trends. Sharia compliant products, such as Sukuk, are expected to continue to grow at double-digit rate to meet the strong demand generated regionally and internationally.
| Author | : Thomas Lagoarde-Segot |
| Publisher | : |
| Total Pages | : 37 |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
The objective of this paper is to situate the MENA area within the emerging markets universe. We first discuss the various components of market emergence and generate four bootstrapped indexes reflecting market size, market activity, market pricing and transparency. We then draw inter-regional and country-level comparisons using a probit model and a hierarchical cluster analysis. Our results suggest that in spite of intra-regional heterogeneity, the MENA region ranks favorably by comparison to Latin America and Eastern Europe. We can therefore expect greater international financial integration of the MENA region in the near future.
| Author | : Simon Neaime |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 2004 |
| Genre | : |
| ISBN | : |
| Author | : S. Motamen-Samadian |
| Publisher | : Springer |
| Total Pages | : 135 |
| Release | : 2006-04-12 |
| Genre | : Business & Economics |
| ISBN | : 0230599338 |
This book presents the latest empirical findings on stock markets in a number of emerging markets. The authors employ the latest techniques and provide valuable insights into each market, highlighting global integration, their potential for profitable investments and features that will be influential in global portfolio decision-making.
| Author | : Hazem Marashdeh |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 280 |
| Release | : 2011-09 |
| Genre | : Africa, North |
| ISBN | : 9783846502167 |
Financial markets in most developing countries have grown rapidly over the past few decades owing to various factors such as deregulation, globalisation and advances in information technology. During this time financial markets all over the world have also witnessed growing integration among themselves. Market integration means a situation where there are no impediments such as legal restrictions, transaction costs, taxes and tariffs against the trade in foreign assets or the mobility of portfolio equity flows. Stock market integration is vital for a host of reasons. It provides further opportunities in risk-sharing among integrated markets. It also contributes to financial stability by enhancing competition and efficiency in the allocation of resources. In addition, it reduces the cost of capital and price volatility among integrated markets. This book sheds light on the financial integration among four emerging stock markets in the Middle East and North Africa (MENA) region, namely, Egypt, Turkey, Jordan and Morocco.
| Author | : Robert A. Korajczyk |
| Publisher | : World Bank Publications |
| Total Pages | : 48 |
| Release | : 1995 |
| Genre | : Aktiemarkeder |
| ISBN | : |
| Author | : Karim Francis Haddad |
| Publisher | : |
| Total Pages | : 110 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Over the last decade world stock markets have become all the more integrated due to a number of reasons, including the different policies and reforms adopted by their respective countries. The purpose of this project is to measure the degre e of financial integration between emerging economies. Particularly, the focus i s on providing advice, if possible on whether diversifying a portfolio across di fferent regional emerging markets could lower the risk that investors are faced with. The first chapter gives an overall understanding of the topic at hand as well as the main argument that we put to test. The second chapter considers several definitions regarding emerging financial ma rkets. We then explain how markets can be financially integrated by providing ex amples on the subject. The third chapter discusses the development of financial markets in general and stock markets in particular in emerging economies. We focus on the composite ind ices in each of the following regional markets: Latin America, East Asia, Middle East & Africa, and Emerging Europe. The fourth chapter sets out to explain the source and other characteristics of o ur sample. In this part we test whether the given index price of each of the abo ve-mentioned regions are cointegrated. The objective is to check if investors ca n diversify their portfolios and eliminate risk by investing in these different regions. Finally, the fifth chapter concludes the project with policy implications.
| Author | : Mr.Manmohan S. Kumar |
| Publisher | : International Monetary Fund |
| Total Pages | : 52 |
| Release | : 1994-09-01 |
| Genre | : Business & Economics |
| ISBN | : 1451852665 |
Within a broad framework for analyzing portfolio capital flows to developing countries, the paper undertakes a comparative analysis of equity markets in six Middle Eastern countries. The analysis, based primarily on a range of quantitative indicators, identifies the principal characteristics of these markets, including relative to international comparators, and examines associated structural features. This, along with an analysis of the informational efficiency of selected markets in the region, provides a basis for the subsequent review of policies for enhancing the role of equity markets in the macroeconomy of Middle Eastern countries.
| Author | : Mohamed El Hedi Arouri |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 214 |
| Release | : 2009-12-24 |
| Genre | : Business & Economics |
| ISBN | : 3790823899 |
Emerging markets have received a particular attention of academic researchers and practitioners since they decided to open their domestic capital markets to foreign participants about three decades ago. At the same time, we remark that theoretical and empirical research in emerging stock markets has been particularly challenged by their fast changes in nature and size under the effects of financial liberalization and reforms. This evolving feature has particularly led to a commensurate increase in sophistication of modeling techniques used for understanding financial markets. In this spirit, the book aims at providing the audience a comprehensive understanding of emerging stock markets in various aspects using modern financial econometric methods. It addresses the empirical techniques needed by economic agents to analyze the dynamics of these markets and illustrates how they can be applied to the actual data. On the other hand, it presents and discusses new research findings and their implications.
