This paper investigates long-memory behavior of stock returns of Egypt, Tunisa and Morrocco stock markets using daily stock price data. Results in the paper support evidence of stationary short-memory process for the returns of the three markets. Short memory of stock returns implies that most...

This paper aims to analyse the dynamics of foreign exchange markets in a country facing political uncertainty that prompt capital outflow from the country. The economic environment under investigation is characterized by dual foreign exchange markets: a formal or official market for foreign...

This paper aims to analyze the dynamics of foreign exchange markets in a country facing political uncertainty that prompt capital outflow from the country. The economic environment under investigation is characterized by dual foreign exchange markets: a formal or official market for foreign...

In this paper we set up a macroeconomic model designed to describe small open economy enduring political uncertainty arising from split of a country into two independent parts. The findings in the paper indicate, stabilization of asset markets in either country at the post-secession era depends...

This paper aims to evaluate the spillover effect of the COVID-19 shock on major global stock markets, including Shanghai, Hong Kong, Japan’s Nikkei, Korea, and Nasdaq stock markets, using daily data of stock prices during the COVID-19 pandemic period. Our findings indicate while shocks on some...

Introduction. Despite the start of the outbreak of the virus (COVID-19) was in December 2019, stock markets did not respond immediately as there was little information about the expected duration of the crisis and whether China would be able to contain it within a short period of time, and the...