TY - BOOK ID - 84542983 TI - Global and Regional Spillovers to GCC Equity Markets AU - Saadi Sedik, Tahsin. AU - Williams, Oral. PY - 2011 SN - 1455294675 1455292656 1283556456 9786613868909 1455266477 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Stock exchanges KW - Bulls and bears KW - Commercial corners KW - Corners, Commercial KW - Equity markets KW - Exchanges, Securities KW - Exchanges, Stock KW - Securities exchanges KW - Stock-exchange KW - Stock markets KW - Capital market KW - Efficient market theory KW - Speculation KW - Econometric models. KW - Middle East KW - Asia, South West KW - Asia, Southwest KW - Asia, West KW - Asia, Western KW - East (Middle East) KW - Eastern Mediterranean KW - Fertile Crescent KW - Levant KW - Mediterranean Region, Eastern KW - Mideast KW - Near East KW - Northern Tier (Middle East) KW - South West Asia KW - Southwest Asia KW - West Asia KW - Western Asia KW - Orient KW - Finance: General KW - Macroeconomics KW - Economic Integration KW - Financial Aspects of Economic Integration KW - Financial Markets and the Macroeconomy KW - General Financial Markets: General (includes Measurement and Data) KW - Energy: Demand and Supply KW - Prices KW - Externalities KW - Finance KW - Oil prices KW - Emerging and frontier financial markets KW - Market capitalization KW - Spillovers KW - Financial markets KW - Financial sector policy and analysis KW - Financial services industry KW - International finance KW - Saudi Arabia UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542983 AB - This paper analyzes the impact of global and regional spillovers to GCC equity markets. GCC equity markets were impacted by spillovers from U.S. equity markets despite varying degrees of foreign participation. Spillovers from regional equity markets were also important but the magnitude of the effects were on average smaller than that from mature markets. The results also illustrated episodes of contagion in particular during the recent global financial crisis. The findings suggest that given the degree of openness, and open capital accounts the financial channel is an important source through which volatility is transmitted. In this regard, GCC equity markets are not immune from global and regional financial shocks. These findings refute the notion of decoupling between the GCC equity and global equity markets. ER -