Situating Middle East and North Africa (MENA) capital markets within the emerging markets universe
AbstractThe objective of this paper is to situate the MENA area within the emerging markets universe. We first discuss the various components of market emergence and generate four bootstrapped indexes reflecting market size, market activity, market pricing and transparency. We then draw inter-regional and country-level comparisons using a probit model and a hierarchical cluster analysis. Our results suggest that in spite of intra-regional heterogeneity, the MENA region ranks favorably by comparison to Latin America and Eastern Europe. We can therefore expect greater international financial integration of the MENA region in the near future.
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Bibliographic InfoPaper provided by IIIS in its series The Institute for International Integration Studies Discussion Paper Series with number iiisdp172.
Date of creation: 02 Aug 2006
Date of revision:
Common Agricultural Policy; World Trade Organizations; Trade Negotiations.;
This paper has been announced in the following NEP Reports:
- NEP-AFR-2006-08-12 (Africa)
- NEP-ALL-2006-08-12 (All new papers)
- NEP-FMK-2006-08-12 (Financial Markets)
- NEP-INT-2006-08-12 (International Trade)
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- Abid, Fathi & Bahloul, Slah, 2011. "Selected MENA countries' attractiveness to G7 investors," Economic Modelling, Elsevier, vol. 28(5), pages 2197-2207, September.
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