This paper investigates the mean reversion patterns in MENA stock markets. Following Fama and French (1988) and Lo and Mackinlay (1988) and using recent stock market data between 1995 and 2000 on Egypt, Jordan, Morocco, and Turkey we find evidence of mean reversion in Turkey with mixed results...

The prolonged war in Iraq, the political turmoil in Lebanon, the heightened tension between the Israelis and the Palestinians, and the specter of an attack on Iran have all significantly shaken business uncertainty levels in several MENA countries. Sovereign risk – the credit risk assessment...

We analyze the role of domestic and foreign banks in Saudi Arabia during the latest financial crisis that has ravaged the world since 2007. The study is based on the growth rate in market share of the credit extended by each bank and investors’ perception about the risk exposure of this...

Central Asia experiences frequent sand and dust storms (SDS), which have been made worse by human activity. The main objective of this study is to provide an economic analysis of the benefits of afforestation of the former Aral Seabed in Uzbekistan. The objective of this study is to estimate...

The purpose of this research paper is to examine social Islamic mutual funds’ financial performance. Since Islamic mutual funds have only been around for the past two decades, most of the research on this topic is fairly new. In this study we apply the single factor model of Schwert and Seguin...

Using individual data from Freddie Mac's portfolio of conventional mortgages, this paper estimates prepayment probabilities as a function of characteristics pertaining to the borrower, the loan, regional, and economic variables. Distinction is made between induced and autonomous prepayments....

Results from the Johansen-Juselius test suggest that the Middle East emerging stock markets are segmented globally, but appear highly integrated within the region. Moreover, the Gonzalo- Granger test, in conjunction with error-correction models, indicates that the market in Egypt is a dominant...

We investigate the performance and risk in two prominent countries in the MENA region, Egypt and Lebanon, where banks operate under market-oriented economic regimes. The study covers the 1990?s, a period that witnessed banking sector reforms towards a more efficient financial system. Noting the...