Darrat, Ali F.; Elkhal, Khaled; Hakim, Sam R. - In: Journal of Economic Development 25 (2000) 2, pp. 119-129
Results from the Johansen-Juselius test suggest that the Middle East emerging stock markets are segmented globally, but appear highly integrated within the region. Moreover, the Gonzalo- Granger test, in conjunction with error-correction models, indicates that the market in Egypt is a dominant...