A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market...

As undiversified commodity exporters, GCC economies are prone to pro-cyclical systemic risk in the financial system. During periods of high hydrocarbon prices, favorable economic prospects make the financial sector keen to lend, leading to higher domestic credit growth and easier access to...

Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and...

This paper examines the empirical relationship among stock return, trading volume and volatility for the seven stock markets that comprise the Gulf Cooperation Council. The dataset includes seven national stock markets for the period spanning from 1 July 2004 to 3 September 2008. Granger...

This paper investigates GCC countries' trade integration. The gravity equation is estimated using Panel Zero-Inflated Negative Binomial specification and COMTRADE aggregate and disaggregated flows. Results confirm GCC countries' integration deficit on exports side, while being integrated to some...

Internet Financial Reporting (IFR) is fast becoming the norm in most western countries; however, little is known about IFR practices in developing countries. This paper investigates the extent and variety of practices of IFR by companies listed on the Muscat Securities Market (MSM) in Oman and...

This report is a comparative study of worldwide transfer costs to nine countries in Europe, Asia, and Africa, and specifically at costs for immigrants to send money from major sending countries including from the United States. It also compares these international trends with costs and trends of...

Given government's budget cuts and the spread of free market economy mechanisms, some Arab countries opened the field of higher education, which was a state monopoly, to the private sector. Many private universities and colleges have been established in these countries. It has been more than a...