Financial Integration Before and During the Financial Crisis of 2008: Evidence from GCC and MENA Stock Market

Goucha, Nadia; Hamdi, Ines

doi:10.21102/irbrp.2016.03.121.04

Cited by 1 publication

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“…Neaime () focuses on the global and regional financial linkages between MENA and developed financial markets, and on the intra‐regional financial linkages between MENA countries’ financial markets over the period from 1 January 2007 to 31 December 2010. In a similar work, Goucha and Hamdi () have attempted to compare the financial integration of MENA countries in before and during the GFC. They employ JJ co‐integration method and the VECM to investigate co‐integration and casual relationships among stock markets in Bahrain, Kuwait, Oman, Qatar and UAE (representing the GCC markets), in addition to Egypt, Jordan, Morocco, Tunisia and Turkey (representing MENA region).…”

Section: Literature Reviewmentioning

confidence: 99%

Mena Stock Markets Integration: Pre and Post Global Financial Crisis

Al-Mohamad

Mishra

2018

Australian Economic Papers

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This paper examines the short-and long-run linkages in pre and post global financial crisis among Middle East and North Africa (MENA) stock markets, between MENA and Chinese stock markets and also between MENA and developed (United States and United Kingdom) stock markets. Results indicate that both long-run co-integration relationships and short-run causal linkages among MENA stock markets increased in post-crisis than that in pre-crisis sub-period. The degree of integration between MENA and Chinese stock markets increased in post-crisis than pre-crisis. We also find that the degree of integration between MENA and developed (United States and United Kingdom) stock markets increased in post-crisis than that in pre-crisis. The presence of increased linkages among MENA markets, and between MENA and Chinese stock markets and also between MENA and developed (United States and United Kingdom) markets has important implications for portfolio investors and policy makers.

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Section: Literature Reviewmentioning

confidence: 99%