Past studies suggest that the Islamic Â…nance system is only weakly linked or even de- coupled from conventional markets. If this statement is true, then this system may provide a cushion against potential losses resulting from probable future Â…nancial crises. In this article, we make use...

This article investigates the potential of nonlinear causal relationships between world oil prices and stock markets in MENA countries during a black swan period that is characterized by rarity and devastating impacts. By using the nonlinear and asymmetric causality test of Kyrtsou and Labys...

The financial crisis has fueled interest in alternatives to traditional asset classes that might be less affected by large market gyrations and, thus, provide for a less volatile development of a portfolio. One attempt at selecting stocks that are less prone to extreme risks, is obeyance of...

This article revisits the C02 emissions-GDF causal relationships in the Middle East

Knowing the real causal links between energy consumption and national

Two recent nonlinear causality tests are used to examine the causal linkages across increasingly important international equity and commodity markets. We show that nonlinear causality is more appealing when asymmetric patterns are accounted for. The results are crucial to hedging and portfolio...