Read Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models

Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models

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Description:Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results reveal that GCC stock markets do not have similar sensitivities to oil price changes. We document the presence of stock market returns' asymmetric reactions in some GCC countries, but not for others. In Kuwait's case, negative oil price changes exert larger impacts on stock returns than positive oil price changes. When considering the asymmetry with respect to the magnitude of oil price variation, we find that Oman's and Qatar's stock markets are more sensitive to large oil price changes than to small ones. Our results highlight the importance of economic stabilization and reform policies that can potentially reduce the sensitivity of stock returns to oil price changes, especially with regard to the existence of asymmetric behavior.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models. To get started finding Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 35

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2018

ISBN: 1484355725

Description: Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results reveal that GCC stock markets do not have similar sensitivities to oil price changes. We document the presence of stock market returns' asymmetric reactions in some GCC countries, but not for others. In Kuwait's case, negative oil price changes exert larger impacts on stock returns than positive oil price changes. When considering the asymmetry with respect to the magnitude of oil price variation, we find that Oman's and Qatar's stock markets are more sensitive to large oil price changes than to small ones. Our results highlight the importance of economic stabilization and reform policies that can potentially reduce the sensitivity of stock returns to oil price changes, especially with regard to the existence of asymmetric behavior.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models. To get started finding Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models

Oil Prices and Gcc Stock Markets: New Evidence from Smooth Transition Models

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