This paper investigates estimation of extreme risk in a number of stock markets in the Gulf Cooperation Council (GCC) countries1, Saudi, Kuwait, and United Arab Emirates, in addition to S& P 500 stock index, using the Generalized Pareto Distribution (GPD) model. The estimated tails parameter...

Results in this paper support evidence of time-varying systematic risk (beta coefficients) for five sectors, their securities are traded in Kuwait Stock Market. The paper indicates banks, and real estate sectors exhibit relatively wider range of systematic risk variation compared to the other...

This paper investigate conditions under which equity funds can be sustainable source of budget deficit financing in an interest free economy. Our findings show equity fund can be sustainable source of deficit financing when the rate of return on equity fund exceeds the budget deficit expansion...

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...

Using a model of a small open economy operating under dual foreign exchange markets, free exchange rate for financial transactions and quasi-fixed exchange rate for commercial transactions, this paper analyses the dynamic adjustment of the foreign exchange rates, when terms of trade, and...

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...

Using a model of small open economy operating under dual foreign exchange markets, with free exchange rate for financial transactions and quasi-fixed exchange rate for commercial transactions, we show in this paper expansionary monetary policy will be associated with: (a) losses of international...