Gulf Cooperation Council Stock Returns and the Effect of Domestic Monetary Policy Shocks

Rashid Sbia, Rashid Sbia, Helmi Hamdi, Bedri Tas and Sahel Al Rousan
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Rashid Sbia: Department in Applied Economics of ULB, Solvay Brussels School of Economics and Management, Brussels, Belgium
Rashid Sbia: Ministry of Finance, P.O Box 1565, Dubai, United Arab Emirates
Sahel Al Rousan: Ministry of Finance, P.O Box 1565, Dubai, United Arab Emirates
Authors registered in the RePEc Author Service: سهل الروسان and Rashid Sbia

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 2, 629-639

Abstract: The aim of this paper is to analyze the effect of monetary policy on stock returns and stock return variability in the Gulf Cooperation Council (GCC) countries namely; Bahrain, Kuwait, Oman, Qatar and Saudi Arabia (United Arab Emirates was excluded for non-availability of the data). The empirical results reveal that the impact of policy interest rates on stock markets varies among GCC countries. These results have an important policy implication for the single market project and monetary union between GCC countries

Keywords: Stock Market; Monetary Policy; Gulf Cooperation Council Countries (search for similar items in EconPapers)
JEL-codes: E43 E47 G17 G18 (search for similar items in EconPapers)
Date: 2016
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