This article exploits a new spillover directional measure proposed by Diebold and Yilmaz (2009, 2012) to investigate the dynamic spillover of return and volatility between oil and equities in the Gulf Cooperation Council Countries during the period 2004 to 2012. Our results indicate that return...

In this paper, we investigate banking sector integration in the Gulf Cooperation Council during the period 1998–2009. The integration inference was derived by testing the convergence of cost efficiency scores. These efficiencies were measured using a smoothed bootstrap procedure that ensures...

The paper investigates returns and returns volatility spillovers from the U.S. and the Saudi market to equity markets in the Gulf Cooperation Council countries. A clear jump in net transmissions from both markets was spotted during the financial crisis in 2008. This new pattern of information...

In this paper we apply a simple hazard model to develop an early warning system of bank distress in the Gulf Cooperation Council countries. Specifically, we identify a set of leading indicators of bank distress that are used subsequently to predict the probability of bank failure in these...