This paper studies excess market returns in the relatively understudied nancial markets of nine Middle Eastern and North African (MENA) countries within the context of three variants of the Capital Asset Pricing Model: the static international CAPM; the constant-parameter intertemporal CAPM; and...

Export competitiveness is an important issue for any country. This paper aims to discern the factors that affect the export competitiveness of a country. Malaysia is taken as a case study. Theoretically, exports are expected to be affected, among others, by factors such as, inflation rate,...

The paper analyzes dynamic interactions among four macroeconomic variables, namely real gross domestic product (GDP), real exports, real exchange rate and foreign direct investment (FDI) for the Malaysian case using standard time series techniques. Malaysia’s GDP seems to be more driven by...

This is an exploratory study that attempts to identify and provide empirical evidence on the possible determinants of the market capitalisation of the Harare Stock Exchange (HSE) with the view of understanding the development prospects of the HSE and other similar markets. The study used...

In the recent rapid reforms made the global into a global village in nature and in terms of efficiency, transparency. The information flow in one market may affect the other markets in the world, because of its integration. In this regard, this paper explores the objective whether there is any...

This study explores the possible cointegrating relationship between the Malaysian Islamic index (EMAS) with other regional and international Islamic indices represented by Dow Jones Islamic Index. We selected five variables for the purpose of this study including EMAS and four Dow Jones Islamic...

The connection between oil price fluctuations and stock markets has gained much attention in the recent decades due to the critical importance of global oil prices. This paper aims to study the Granger-causal relationship between real prices of the Islamic stock market and real oil prices – a...

The objective of this research is to identify the influences between Islamic index in Europe, and its counterpart in Asia, whether the requirement of Shariah (Islamic) compliance of Islamic indexes will tend to get the indexes closer by being influential on each other, or other indexes such as,...

We empirically investigate the existence of periodically collapsing bubbles in seven Middle East and North African (MENA) financial markets for the period ending in May 2009. We use the Taylor and Peel (1998) residual augmented least square Dickey and Fuller test (RALS DF) to detect the bubbles....

This paper studies excess market returns in the relatively understudied nancial markets of nine Middle Eastern and North African (MENA) countries within the context of three variants of the Capital Asset Pricing Model: the static international CAPM; the constant-parameter intertemporal CAPM; and...