Economic versus financial integration or decoupling between the US and the GCC

Economic versus financial integration or decoupling between the US and the GCC

Although the two biggest economies of the Gulf Cooperation Council (GCC), namely the Kingdom of Saudi Arabia and the United Arab Emirates, are not economically affected by the business cycles in the US, financial interactions are a different story. In this article, we show that while the GCC economi...

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Veröffentlicht in:Applied financial economics 2010-10, Vol.20 (20), p.1577-1583
Hauptverfasser: Genc, Ismail H., Jubain, Abdullah, Al-Mutairi, Abdullah
Format: Artikel
Sprache:eng
Schlagworte:
Business cycles
Economic conditions
Economic fluctuations
Economic integration
Financial systems
Gulf Cooperation Council
International finance
Middle East
Securities markets
Stock exchange
Stock exchanges
Studies
U.S.A
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Zusammenfassung:Although the two biggest economies of the Gulf Cooperation Council (GCC), namely the Kingdom of Saudi Arabia and the United Arab Emirates, are not economically affected by the business cycles in the US, financial interactions are a different story. In this article, we show that while the GCC economies have decoupled from that of the US, the stock markets in them are very much in synchronization with the fluctuations in the US stock market.
ISSN:0960-3107
1466-4305
DOI:10.1080/09603107.2010.508713