Emerging Equity Markets in Middle Eastern Countries

Author/Editor:

Mohamed A. El-Erian ; Manmohan S. Kumar

Publication Date:

September 1, 1994

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Within a broad framework for analyzing portfolio capital flows to developing countries, the paper undertakes a comparative analysis of equity markets in six Middle Eastern countries. The analysis, based primarily on a range of quantitative indicators, identifies the principal characteristics of these markets, including relative to international comparators, and examines associated structural features. This, along with an analysis of the informational efficiency of selected markets in the region, provides a basis for the subsequent review of policies for enhancing the role of equity markets in the macroeconomy of Middle Eastern countries.

Series:

Working Paper No. 94/103

Subject:

Notes:

Discusses Egypt, Islamic Republic of Iran, Jordan, Morocco, Tunisia, and Turkey. Also published in Staff Papers, Vol. 42, No. 2, June 1995.

English

Publication Date:

September 1, 1994

ISBN/ISSN:

9781451852660/1018-5941

Stock No:

WPIEA1031994

Format:

Paper

Pages:

52

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