Saudi’s Growth and Financial Spillovers to Other GCC Countries: An Empirical Analysis

Olumuyiwa Adedeji, Sohaib Shahid and Ling Zhu

No 2018/278, IMF Working Papers from International Monetary Fund

Abstract: This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.

Keywords: WP; GCC country; GCC sovereign bond market spillover; Growth; Gulf Corporation Council; Spillovers; growth shock; equity market movement; GCC bond spread; GCC equity; Stock markets; Yield curve; Sovereign bonds; Oil prices; Global (search for similar items in EconPapers)
Pages: 17
Date: 2018-12-11
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Citations: View citations in EconPapers (3)

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