This paper examines financial spillovers between the four largest equity markets (by market capitalization) in the GCC region using a VAR-GARCH (1,1) framework that sheds light on interdependence as well as the effects of the 2014 oil crisis. Since the UAE is a federation including two stock...

The GCC markets are the most advanced in economic reforms in the Middle East and have proceeded solidly towards regional integration during the early 2000s. Some of the GCC markets (for example, Bahrain and the UAE) had made solid progress in their expansion, reforms and openness. Over the...

This paper analyzes the patterns and determinants of financial integration in East Asia by using the data set of cross-border holdings of financial assets such as equity portfolio, long-term and short-term debt securities, and bank claims. Empirical analysis based on the gravity model of...