Emerging Equity Markets in Middle Eastern Countries
International Monetary Fund, Sep 1, 1994 - Business & Economics - 52 pages
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.
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III Analysis of Equity Markets in Selected Middle Eastern Countries
IV Market Volatility and Informational Efficiency
V Developing and Improving Equity Markets in Middle Eastern Countries
VI Concluding Remarks
Stock Prices and PriceEarnings Ratios
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Amman Stock Exchange analysis Arab countries billion capital flows capital markets coefficients Collyns commercial bank compared competition corporate cost creditors debt and debt debt service reduction developing countries discussed dividend domestic economic and financial Efficient Market Hypothesis Egypt El-Erian emerging equity markets emerging markets enhancing equity financing expected number factors Financial Markets financial sector flows to developing foreign investors growth important indicate industrial country markets inflows international capital markets International Financial International Monetary Fund internationalization Iran issues Jordan and Turkey Jordanian liquidity listed companies macroeconomic market capitalization Market Financing Middle East Middle Eastern countries Mohamed Morocco number of runs paper payments policies portfolio potential price earnings ratios random walk random walk hypothesis rates reform region relatively risk role of equity serial correlation significant Stock Exchange stock market stock price successive price changes total number Tunisia Turkish market U.S. Dollars value traded volatility voluntary