Emerging Equity Markets in Middle Eastern Countries

Mohamed El-Erian and Manmohan Kumar

No 1994/103, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; secondary market; constant dollars; market capitalization; price change; private sector; intrinsic value; rate of return; bull market; export market opportunity; financial support; reduction operation; market place; opportunity cost; Stock markets; Emerging and frontier financial markets; Stocks; Capital markets; International capital markets; Middle East (search for similar items in EconPapers)
Pages: 52
Date: 1994-09-01
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1994/103

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