Regional financial integration in the GCC

Emerging Markets Review

Volumn 12, Issue 4, 2011, Pages 354-370

  Espinoza, Raphael ^a   Prasad, Ananthakrishnan ^a   Williams, Oral ^a  

^a INTERNATIONAL MONETARY FUND   (United States)

Author keywords

Arbitrage opportunity; Beta convergence; Cross listing; Interest rate convergence; Regional capital flows; Sigma convergence

Indexed keywords

EID: 79959682992     PISSN: 15660141     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ememar.2011.04.005     Document Type: Article

References (17)

1. Adam K., Jappelli T., Menichini A.M., Padula M., Pagano M. Analyse, compare, and apply alternative indicators and monitoring methodologies to measure the evolution of capital market integration in the European Union. Report to the European Commission 2002.
2. AlKholifey A., Alreshan A. GCC monetary union. Irving Fisher Committee on Central Bank Statistics Bulletin 2010, 32:17-51. Bank of International Settlements.
3. Araujo E. Macroeconomic shocks and the co-movement of stock returns in Latin America. Emerging Markets Review 2009, 10:331-344.
4. Baele L., Ferrando A., Hördahl P., Krylova E., Monnet C. Measuring financial integration in the Euro area. Occasional No. Paper 14 2004.
5. Barro J., Sala-i-Martin Convergence across states and regions. Brookings Paper on Economic Activity 1991, 1:107-182.
6. Chai J. The Eastern Caribbean currency union banking system in a time of fiscal challenge. The Caribbean: from Vulnerability to Sustained Growth 2006, 143-180. International Monetary Fund, Washington DC. R. Sahay, D.O. Robinson, P. Cashin (Eds.).
7. Edison H.J., Levine R., Ricci L., Slok T. International financial integration and economic growth. Journal of International Money and Finance 2002, 21(6):749-776.
8. Espinoza R., Kwon G. Regional financial integration in the Caribbean: evidence from financial and macroeconomic data. IMF Working Paper, WP 09/139 2009.
9. Fayyad A., Daly K. The impact of oil price shocks on stock market returns: comparing GCC countries with the UK and USA. Emerging Markets Review 2011, 12:61-78.
10. Kwon G., Panth S., Chai J., Gerson A., Casselle G.M., Espinoza R. Financial integration in the Caribbean. The Caribbean: Enhancing Economic Integration 2008, 3-43. International Monetary Fund, IMF Western Hemisphere Department, Washington DC. A. Bauer, P. Cashin, S. Panth (Eds.).
11. Levy Yeyati E., Schmukler S.L., Van Horen N. International financial integration through the law of one price. World Bank Working Paper WPS2897 2006.
12. Liu S. International cross-listing and stock pricing efficiency: an empirical study. Emerging Markets Review 2007, 8:251-263.
13. Mankiw N., Romer R., Weil d. A contribution to the empirics of growth. Quarterly Journal of Economics 1995, 107:407-437.
14. Obstfeld M., Taylor A. Nonlinear aspects of goods-market arbitrage and adjustment: Hechkscher's commodity points revisited. Journal of the Japanese and International Economies 1997, 11:441-479.
15. Quah Danny Galton's fallacy and tests of the convergence hypothesis. Sandinavian Journal of Economics 1993, 95(4):427-443.
16. Tong H. On a threshold model. Pattern Recognition and Signal Processing 1978, Sijthoff and Noordhoff, Amsterdam. C.H. Chen (Ed.).
17. Tsomocos D. Equilibrium analysis, banking and financial instability. Journal of Mathematical Economics 2003, 39(5-6):619-655.