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Gulf cooperation council stock returns and the effect of domestic monetary policy shocks

Author

Listed:
  • Rashid Sbia
  • Helmi Hamdi
  • Bedri Kamil Onur Tas
  • Sahel Al Rousan

Abstract

The aim of this paper is to analyze the effect of monetary policy on stock returns and stock return variability in the Gulf Cooperation Council (GCC) countries namely; Bahrain, Kuwait, Oman, Qatar and Saudi Arabia (United Arab Emirates was excluded for non-availability of the data). The empirical results reveal that the impact of policy interest rates on stock markets varies among GCC countries. These results have an important policy implication for the single market project and monetary union between GCC countries.

Suggested Citation

  • Rashid Sbia & Helmi Hamdi & Bedri Kamil Onur Tas & Sahel Al Rousan, 2016. "Gulf cooperation council stock returns and the effect of domestic monetary policy shocks," ULB Institutional Repository 2013/231232, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/231232
    Note: SCOPUS: ar.j
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    Keywords

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    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications

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