Emerging Equity Markets In Middle Eastern Countries

Author : Mr.Manmohan S. Kumar,Mr.Mohamed A. El-Erian
Publisher : International Monetary Fund
Page : 52 pages
File Size : 49,5 Mb
Release : 1994-09-01
Category : Business & Economics
ISBN : 9781451852660

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Emerging Equity Markets in Middle Eastern Countries by Mr.Manmohan S. Kumar,Mr.Mohamed A. El-Erian Pdf

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.

Author : Mohamed A. El-Erian
Publisher : Unknown
Page : 51 pages
File Size : 47,8 Mb
Release : 2017
Category : Electronic
ISBN : OCLC:1290689457

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Emerging Equity Markets in Middle Eastern Countries by Mohamed A. El-Erian Pdf

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.

Author : Henry T. Azzam
Publisher : AuthorHouse
Page : 0 pages
File Size : 50,5 Mb
Release : 2015
Category : Business & Economics
ISBN : 1504932803

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The Emerging Middle East Financial Markets by Henry T. Azzam Pdf

The book aims to unravel the potentials of Middle East financial markets, which are spread over a large and wealthy part of the world. These markets are gradually being opened for international investors seeking diversification and rewarding risk adjusted returns. However, opening up to international investors is a necessary but not a sufficient condition to attract institutional money needed to provide depth and professionalism to these markets. Without a cultural shift towards more transparency, better regulations and governance, and the availability of custody, clearance and equity research, up to international best practice, not much institutional money will be forthcoming to the region. Funding sources in the Middle East and North Africa Region are still predominantly channeled through the banking system, with equity and fixed income markets playing a marginal role. While the world's financial markets show on average a balanced structure of bank assets, stock market capitalization and debt securities, the capital mix in the region is heavily skewed towards bank assets with a share of 58.8%, equities around 34% and debt securities (bonds and Sukuk) 7.2%. Stock markets of the UAE and Qatar have recently been upgraded to emerging market status, which together with Egypt are the only three Arab countries that have selected listed companies featuring in the Morgan Stanley Capital Index for Emerging Markets (MSCI EM). Saudi Arabia has opened its stock market to direct investment by foreign financial institutions in the second half of 2015. The opening of the Saudi stock market is a major positive development for the region's capital markets. The path ahead for MENA finance has become now clearer. The relative weight of commercial banks in the financial system will diminish gradually, and a wider range of financial services will be provided by deeper and increasingly more sophisticated debt and equity capital markets, in line with worldwide trends. Sharia compliant products, such as Sukuk, are expected to continue to grow at double-digit rate to meet the strong demand generated regionally and internationally.

Author : Henry T. Azzam
Publisher : Routledge
Page : 313 pages
File Size : 41,7 Mb
Release : 2013-12-16
Category : Social Science
ISBN : 9781136883811

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Emerging Arab Capital Markets by Henry T. Azzam Pdf

First Published in 1997. Economic adjustment programs that combine macroeconomic stability and structural reforms are being implemented in several Arab countries. Policy-makers also are devoting more attention to improving the operation of domestic capital markets. To invest in this region now would be a far-sighted move by entering at a stage when the process is still under way. This book is one of very few readily available sources of reference on the region's stock and bond markets, presented in a concise and accessible form. It provides investors, policy-makers, analysts, bankers and other market participants with comprehensive information covering the top 10 Arab stock markets of Saudi Arabia, Egypt, Jordan, Kuwait, UAE, Bahrain, Oman, Lebanon, Morocco and Tunisia. For each market, a historical background is given together with structure, listing and trading procedures, performance trends, financial indicators, sectoral analysis and underlying strengths and weaknesses.

Author : Kathryn C. Lavelle
Publisher : Oxford University Press
Page : 296 pages
File Size : 42,7 Mb
Release : 2004-10-14
Category : Business & Economics
ISBN : 9780190291716

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The Politics of Equity Finance in Emerging Markets by Kathryn C. Lavelle Pdf

Emerging market stock issuance relative to GDP rose in the late twentieth century to levels that roughly matched that of advanced, industrial markets. Nonetheless, the connection between owning shares of emerging market stock and the ability to influence the management of these firms remains fundamentally different from the analogous institutional connection that has evolved in industrial markets. The reasons for the differences in emerging markets are both historical and political in nature. That is, local equity markets have had the objective of providing for some degree of local ownership and control of large economic entities since the late nineteenth century. However, local markets have operated under different global political structures since that time, ranging from imperialism, to world wars, to sovereign developmental states, to neo-liberal states. Shares issued under these different structures have been reconfigured over time, resulting in a lack of convergence along either the Anglo-American or Continental models of corporate governance. The author uses a political science paradigm to explain the growth of emerging equity markets. She departs from conventional economic explanations and examines politics at the micro-level of large issues of emerging market stock. The second half of the book presents case studies dealing with emerging market countries in Latin America, Asia, Russia and Eastern Europe, Africa and the Middle East. The case studies connect the regional, state, and firm levels to detail the multiple ownership and control arrangements, and to dispel the notion that mere quantitative growth of these markets will lead to a convergence in financial institutional structures along the lines of the industrial core of the world economy.

Author : Tim J. Rogmans
Publisher : Business Expert Press
Page : 140 pages
File Size : 54,6 Mb
Release : 2012-09-01
Category : Business & Economics
ISBN : 9781606492062

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The Emerging Markets of the Middle East by Tim J. Rogmans Pdf

Over the next decade, the economies of the Middle East will continue to be characterized by rapid growth, political turmoil, and increasing competitive intensity. International investors have the choice either to ignore the region all together and bypass business opportunities with great potential or to make a careful assessment of which countries to enter and how to enter them successfully. This book is the first of its kind to include the information, insights, and frameworks that are required to develop entry and growth strategies for the Middle East in the new turbulent environment following the global economic crisis and the Arab Spring. The first part of this book provides an in-depth analysis of the major developments that determine the business environment of different countries in the region, including a discussion of major social and economic developments, the impact of the rise in multinational companies from the Middle East, and the role played by institutions and political risk. The second part deals with each of the major decisions that a company planning to grow in the region needs to make: Which countries to enter? What is the right entry mode and ownership structure? How to choose between a greenfield operation and an acquisition? This book concludes with valuable and practical advice on the process of setting up operations in the Middle East.

Author : Keith K. H. Park,Antoine W. van Agtmael
Publisher : Irwin Professional Publishing
Page : 686 pages
File Size : 51,7 Mb
Release : 1993
Category : Business & Economics
ISBN : UCSD:31822015046857

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The World's Emerging Stock Markets by Keith K. H. Park,Antoine W. van Agtmael Pdf

In Korea, Thailand, Mexico, Chile and a host of other nations, stock markets previously shunned as illiquid, or simply too exotic, are evolving at a terrific rate, and drawing in ever more participants. Consider these facts:. The emerging markets' share of world market capitalization will grow from approximately 7 percent to 15-20 percent - a pace more than twice that of the industrialized nations.

Author : Ahsan Mansur,Fernando Delgado
Publisher : Palgrave MacMillan
Page : 242 pages
File Size : 53,9 Mb
Release : 2008-10-31
Category : Business & Economics
ISBN : NWU:35556038409751

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Stock Market Developments in the Countries of the Gulf Cooperation Council by Ahsan Mansur,Fernando Delgado Pdf

"This book provides an analysis of the structural strengths and weaknesses of the Gulf stock markets and the appropriateness of policies implemented. It examines the effect of the 2006 correction on financial stability and economic growth and explains the differences in performance of some regional markets. This research integrates for the first time under a homogenous methodology the systematic analysis of all stock markets in the Gulf, identifies common trends and causes for differential behaviour and constitutes a key contribution toward the understanding of the functioning of the Gulf stock exchanges by domestic and foreign investors."--BOOK JACKET.

Author : Keith K. H. Park,Antoine W. van Agtmael
Publisher : Unknown
Page : 650 pages
File Size : 47,9 Mb
Release : 1994
Category : Securities
ISBN : 9971643855

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The World's Emerging Stock Markets by Keith K. H. Park,Antoine W. van Agtmael Pdf

Author : Lu’ayy Minwer Al-Rimawi
Publisher : Kluwer Law International B.V.
Page : 356 pages
File Size : 41,7 Mb
Release : 2012-02-01
Category : Law
ISBN : 9789041141927

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Raising Capital on Arab Equity Markets by Lu’ayy Minwer Al-Rimawi Pdf

This first book of its kind discusses in particular the role of investor protection as regards disclosure when issuers are offering securities to the public, with full descriptions of the securities markets and stock exchanges in seventeen Arab jurisdictions. In two interrelated parts it examines both the regional macroeconomic matrix and a detailed case study (that of Jordan) in order to analyse the development and characteristics of an Arab regulatory model. Among the important issues and topics arising in the course of the analysis are the following: relevance of international regulatory standards to Arab securities markets; mandatory versus voluntary securities disclosure; the fundamentals of the Islamic financial system, role of riba and gharar, nature and impact of Shari’a’s unquantifiable juridical risks on the modus operandi of Arab securities markets; macroeconomic adjustment policies and structural adjustment programmes in several Arab countries; recent economic and Arab capital markets impact in the wake of the ‘Arab Spring’; extent of different countries’ reliance on Shari’a as a constitutional source; constitutional challenges to the imposition of interest; the need for the positive law to compel securities disclosure under Shari’a; shareholders’ remedies when suing for fraud or negligent misstatements; liability for misleading or inaccurate disclosure (under the general law of the UK and a selected Arab jurisdiction); prospectus liability under the statutory regime of the UK and an Arab regulatory regime; bars to rescission of contract: Comparative UK and Shari'a aspects; and Arab, UK regulatory agencies' enforcement, prosecutorial, administrative and civil remedies. The author closely examines various instruments deployed for conveying securities disclosure and dissemination of information, and looks extensively at relevant rulings as enunciated by an Arab court of cassation. He then constructs a model of an effective securities disclosure regime in order to provide better investor protection for shareholders under Shari’a. 'Among the strengths of Dr Lu’ayy Minwer Al-Rimawi’s book is the fact that at all times he adopts a comparative approach, not only as between different Arab systems, but also with an appreciation of the legal position in the UK and the European Union and elsewhere’ [The Hon. Mr Justice Sir William Blair Q.C., High Court Judge in the UK and Chairman of the Qatar Financial Centre Regulatory Tribunal]. As the first in-depth discussion of the regulation of Arab capital markets in English, with an eye to international standards and the policy issues involved – and with attention focused on the central question of how the law can properly protect investors – this book will commend itself to all those with an interest in securities markets in the Arab world.

Author : M. Marinov
Publisher : Springer
Page : 220 pages
File Size : 41,7 Mb
Release : 2006-11-28
Category : Social Science
ISBN : 9780230626287

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Marketing in the Emerging Markets of Islamic Countries by M. Marinov Pdf

The book offers an exciting overview of the marketing opportunities, challenges and traditions in Islamic countries. Providing an insight into the specifics of marketing in Islamic countries, the book is an interesting and helpful read for marketers, students and all who enjoy marketing challenges presented by less well-known emerging markets.

Author : Oliver S. Kratz
Publisher : Springer Science & Business Media
Page : 210 pages
File Size : 47,5 Mb
Release : 2007-08-28
Category : Business & Economics
ISBN : 9780585308111

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Frontier Emerging Equity Markets Securities Price Behavior and Valuation by Oliver S. Kratz Pdf

Frontier Emerging Equity Markets Securities Price Behavior and Valuation uses the Russian example to illustrate the intricate mechanics of frontier emerging equity market analysis. Frontier markets are those equity markets that do not benefit from the same degree of securities transparency and information dissemination as future emerging markets. In many cases, frontier equity markets are those which have been created almost literally overnight, without the infrastructure and institutional readiness of the nations in which they are located. During the 1990s, frontier emerging markets have formed a new investment asset class which requires a very different set of valuation metrics from mature emerging markets. In developing a multi-stage approach to the understanding and valuing of such markets, this book uses the case of the Russian frontier equity market to illustrate topics such as the relationship between equity market infrastructure and valuation during the `genesis' period of an emerging financial market; evolving market efficiency; and the crucial role of depository receipt programs in the development of these markets. Further, this book develops the first comprehensive framework for valuing a frontier equity market. The role of equity risk premium, as it affects early dynamic equity valuation, is also covered in order to illuminate important drivers of securities price performance. The book closes by discussing the philology of the frontier market valuation debate, in which every market participant is an important purveyor of information and a contributor to the final valuation dimension of equities. The main asset used to present the empirical concepts is a complete research database drawn from actual frontier market investing, which previously had been unavailable to academic researchers. As an active institutional asset management professional at a major Wall Street investment firm, the author marries academic theories, such as market efficiency and market segmentation, to the real world of high stakes and high risk frontier market investing. This book illustrates the applicability and, in some cases, the uselessness of financial theory when applied to this new and rising asset class. It opens the discussion of equity valuation theory for an environment where many conventional rules of asset price determination need to be rewritten. As the first research-level monograph exclusively dedicated to frontier emerging equity market analysis, it offers a unique dual perspective on how academic financial research finds it a complementary and sometimes antagonistic counterpart of real-life investment decision-making. This book can help both professional investors and students of finance to understand frontier equity market valuation and development.

Author : Mr.Robert Alan Feldman,Mr.Manmohan S. Kumar
Publisher : International Monetary Fund
Page : 34 pages
File Size : 45,6 Mb
Release : 1994-03-01
Category : Business & Economics
ISBN : 9781451971217

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Emerging Equity Markets by Mr.Robert Alan Feldman,Mr.Manmohan S. Kumar Pdf

Since the mid-1980s, there has been a very substantial increase in stock market activity in many developing countries. This paper first examines the main characteristics of the emerging stock markets, and illustrates the evolution of equity prices in these markets over the last decade. It then discusses the reasons for the markets’ growth and assesses the extent to which domestic policies, as well as external factors, have played a role. This is followed by a discussion of the likely benefits of these markets; the effects which any abrupt correction in stock prices could have for the economy; and the ways in which these markets can be made more efficient.

Author : Ms.Sena Eken,Mr.Mohamed A. El-Erian,Ms.Susan Fennell,Mr.Jean-Pierre Chauffour
Publisher : International Monetary Fund
Page : 60 pages
File Size : 45,7 Mb
Release : 1996-04-06
Category : Business & Economics
ISBN : 1557755655

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Growth and Stability in the Middle East and North Africa by Ms.Sena Eken,Mr.Mohamed A. El-Erian,Ms.Susan Fennell,Mr.Jean-Pierre Chauffour Pdf

This paper provides an economic overview of the very diverse countries within the large geographical area. It highlights the economic challenges and opportunities facing the MENA region, the policies pursued by the countries in the region, and the outlook for the external environment. The paper concludes with eight policy recommendations.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 60 pages
File Size : 52,6 Mb
Release : 1997-11-11
Category : Business & Economics
ISBN : 1557757127

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Financial Systems and Labor Markets in the Gulf Cooperation Council Countries by International Monetary Fund Pdf

This volume comprises two separate papers on key structural aspects of the reform process in the Gulf Cooperation Council countries. The first paper addresses issues related to financial intermediation and reform in the context of the evolving economic environment in the GCC countries. The second discusses the labor market challenges and policy issues in the GCC countries and their implications for the Middle East and North Africa (MENA) region.