{
  "title": "Global and Regional Spillovers to GCC Equity Markets",
  "publication": "IMF Working Papers, June 1, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/global-and-regional-spillovers-to-gcc-equity-markets-24971",
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  "summary": "This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation.\n- Spillovers from regional equity markets were also important, but the magnitude of the effects were on average smaller than that from mature markets.\n- The results illustrated episodes of contagion, in particular during the recent global financial crisis.\n- Given the degree of openness, and open capital accounts, the financial channel is an important source through which volatility is transmitted.\n- GCC equity markets are not immune from global and regional financial shocks.\n- These findings refute the notion of decoupling between the GCC equity and global equity markets."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Emerging and frontier financial markets, Financial markets, Financial sector policy and analysis, Market capitalization, Oil prices, Prices, Spillovers, Stock markets\n- Keywords: contagion, country j equity market, country stock exchanges, Emerging and frontier financial markets, financial integration, GCC, GCC economy, GCC equity markets, GCC Index, GCC market, Global, Market capitalization, Oil prices, response to a rise, spillovers, Stock markets, WP\n\n---\n\n Content in this bundle\n\n- 1.   Listed Companies\n  - 1.   Listed Companies (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1.   Listed Companies (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/global-and-regional-spillovers-to-gcc-equity-markets-24971"
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    "[Markdown version](/en/publications/wp/issues/2016/12/31/global-and-regional-spillovers-to-gcc-equity-markets-24971/index.md)",
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    "Authors: Tahsin Saadi Sedik, Oral Williams",
    "Published: June 1, 2011",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455265435.001",
    "GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation.",
    "Spillovers from regional equity markets were also important, but the magnitude of the effects were on average smaller than that from mature markets.",
    "The results illustrated episodes of contagion, in particular during the recent global financial crisis.",
    "Given the degree of openness, and open capital accounts, the financial channel is an important source through which volatility is transmitted.",
    "GCC equity markets are not immune from global and regional financial shocks.",
    "These findings refute the notion of decoupling between the GCC equity and global equity markets.",
    "Subject: Emerging and frontier financial markets, Financial markets, Financial sector policy and analysis, Market capitalization, Oil prices, Prices, Spillovers, Stock markets",
    "Keywords: contagion, country j equity market, country stock exchanges, Emerging and frontier financial markets, financial integration, GCC, GCC economy, GCC equity markets, GCC Index, GCC market, Global, Market capitalization, Oil prices, response to a rise, spillovers, Stock markets, WP",
    "**1.   Listed Companies**"
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