A Note on the Oman Stock Market and the Problem of Over-Subscriptions

N Al-Mawali and A N M Wahid

Studies in Economics and Econometrics, 2001, vol. 25, issue 3, 115-122

Abstract: In the primary stock market of Oman, new issues are sold at an arbitrary fixed price giving rise to the problem of oversubscriptions. This paper defines and explains the process of oversubscriptions and finds that it distorts the market and causes inefficiency. The paper concludes that in order to alleviate this problem, market forces should be allowed to operate freely and excess liquidity emanating from inordinate government soft loan should be controlled.

Date: 2001
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DOI: 10.1080/10800379.2001.12106321

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