Global and Regional Spillovers to GCC Equity Markets /

This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spillovers from regional equity markets were also important but the magnitude of the effec...

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Автор: Saadi Sedik, Tahsin
Інші автори: Williams, Oral
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2011.
Серія:IMF Working Papers; Working Paper ; No. 2011/138
Онлайн доступ:Full text available on IMF
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245 1 0 |a Global and Regional Spillovers to GCC Equity Markets /  |c Tahsin Saadi Sedik, Oral Williams. 
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520 3 |a This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spillovers from regional equity markets were also important but the magnitude of the effects were on average smaller than that from mature markets. The results also illustrated episodes of contagion in particular during the recent global financial crisis. The findings suggest that given the degree of openness, and open capital accounts the financial channel is an important source through which volatility is transmitted. In this regard, GCC equity markets are not immune from global and regional financial shocks. These findings refute the notion of decoupling between the GCC equity and global equity markets. 
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700 1 |a Williams, Oral. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/138 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2011/138/001.2011.issue-138-en.xml  |z IMF e-Library