Hidden Bibliographic Details
| Other uniform titles: | IMF eLibrary.
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| Other authors / contributors: | Petri, Martin.
Saadi-Sedik, Tahsin.
International Monetary Fund.
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| ISBN: | 1451989989
9781451989984
9781451864472
1451864477
9781451989984
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| Notes: | Available in PDF, ePUB, and Mobi formats on the Internet.
Includes bibliographical references (pages 35-36).
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| Summary: | We analyze the performance of the Amman Stock Exchange (ASE) and its integration with other markets. Using cointegration techniques, we find that the ASE and other Arab stock markets are cointegrated, which implies little long-run risk diversification. However, there is no cointegrating relationship between the ASE and other emerging or developed stock markets. Two of the main regional stock markets-Kuwait and Saudi Arabia-Grangercause the Jordanian stock market. The paper finds that there may have been some overvaluation at end-2005, but that the market correction in early 2006 and strong recent earnings growth have reduced overvaluation concerns.
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| Standard no.: | 10.5089/9781451989984.001
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