Systemic risk is of concern for economic welfare as systemic financial crisis has the potential to inefficiently lower the supply of credit to the nonfinancial sector. Conventional systemic risk measures are parsimonious in nature and are used to assess the current systemic risk contributions of...

This paper examines the presence of spillover and time varying correlation between returns of Islamic stock markets in the Gulf region. Our sample comprises of six Gulf equity market returns i.e. Oman, UAE, KSA, Bahrain, Qatar and Kuwait ranging from June 2005 to January 2022. We use Diebold and...