Purpose – The purpose of this paper is to examine the existence of rational speculative bubbles in the Middle East and North African (MENA) stock markets. Design/methodology/approach – To complement shortcomings of the traditional bubble tests, such as unit root tests and cointegration...

A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich dataset...

The purpose of this study is to investigate the effects of IFRS adoption on MENA's emerging stock markets and to shed some light on the macro-economic determinants which have had an important influence on stock market development. The empirical study is conducted using a balanced panel data from...

Purpose -The purpose of this article is to examine is to the link between stock markets and economic growth in advanced and emerging economies in the Middle East and North Africa (mena) region. Design/methodology/approach -Indices measuring the degree of financial openness and market development...

Understanding the impact of external shocks on stock markets returns and volatility is crucial for market participants as volatility is synonymous with risk. The focus of this paper is to determine whether the US monetary policy decisions influence the stock market returns and volatility in...

Purpose -The purpose of this study is to investigate the role of stock markets in economic growth and to shed some light on the macroeconomic determinants which must have an important influence on stock markets development. Design/methodology/approach -The empirical study is conducted using an...

In the empirical literature, only few studies have focused on the relationship between oil prices and stock markets in both exporting and importing countries. Previous studies have focused almost exclusively on oil exporting countries; in this paper we encounter this issue through implementing...

Purpose – The paper aims to investigate the relative performance of the most popular value-at-risk (VaR) estimates with an emphasis on the extreme value theory (EVT) methodology for seven Middle East and North Africa (MENA) countries. Design/methodology/approach – The paper calculates tails...

This study sets out to explore relations between culture, religion, trust and their impact on the emerging financial market in Libya. This research was conducted using qualitative method to obtain the data. The findings of this study are that the isomorphism of Western institutions to the...