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The Emerging Middle East Financial Markets

The Emerging Middle East Financial Markets PDF

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Author: Henry T. Azzam
Publisher: AuthorHouse
ISBN: 150493282X
Size: 26.11 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 250
View: 105

Book Description: The book aims to unravel the potentials of Middle East financial markets, which are spread over a large and wealthy part of the world. These markets are gradually being opened for international investors seeking diversification and rewarding risk adjusted returns. However, opening up to international investors is a necessary but not a sufficient condition to attract institutional money needed to provide depth and professionalism to these markets. Without a cultural shift towards more transparency, better regulations and governance, and the availability of custody, clearance and equity research, up to international best practice, not much institutional money will be forthcoming to the region. Funding sources in the Middle East and North Africa Region are still predominantly channeled through the banking system, with equity and fixed income markets playing a marginal role. While the world’s financial markets show on average a balanced structure of bank assets, stock market capitalization and debt securities, the capital mix in the region is heavily skewed towards bank assets with a share of 58.8%, equities around 34% and debt securities (bonds and Sukuk) 7.2%. Stock markets of the UAE and Qatar have recently been upgraded to emerging market status, which together with Egypt are the only three Arab countries that have selected listed companies featuring in the Morgan Stanley Capital Index for Emerging Markets (MSCI EM). Saudi Arabia has opened its stock market to direct investment by foreign financial institutions in the second half of 2015. The opening of the Saudi stock market is a major positive development for the region’s capital markets. The path ahead for MENA finance has become now clearer. The relative weight of commercial banks in the financial system will diminish gradually, and a wider range of financial services will be provided by deeper and increasingly more sophisticated debt and equity capital markets, in line with worldwide trends. Sharia compliant products, such as Sukuk, are expected to continue to grow at double-digit rate to meet the strong demand generated regionally and internationally.


Emerging Arab Capital Markets

Emerging Arab Capital Markets PDF

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Author: Azzam
Publisher: Routledge
ISBN: 1136883746
Size: 13.70 MB
Format: PDF, Mobi
Category : Social Science
Languages : en
Pages : 256
View: 4986

Book Description: First Published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.


Emerging Equity Markets In Middle Eastern Countries

Emerging Equity Markets in Middle Eastern Countries PDF

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Author: Mohamed A. El-Erian
Publisher:
ISBN:
Size: 80.86 MB
Format: PDF, ePub, Docs
Category : Capital market
Languages : en
Pages : 45
View: 3148

Book Description: Within a broad framework for analyzing portfolio capital flows to developing countries, the paper undertakes a comparative analysis of equity markets in six Middle Eastern countries. The analysis, based primarily on a range of quantitative indicators, identifies the principal characteristics of these markets, including relative to international comparators, and examines associated structural features. This, along with an analysis of the informational efficiency of selected markets in the region, provides a basis for the subsequent review of policies for enhancing the role of equity markets in the macroeconomy of Middle Eastern countries.


The Emerging Middle East East Asia Nexus

The Emerging Middle East East Asia Nexus PDF

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Author: Anoushiravan Ehteshami
Publisher: Routledge
ISBN: 1317701704
Size: 52.51 MB
Format: PDF, ePub, Mobi
Category : Political Science
Languages : en
Pages : 192
View: 340

Book Description: As the economies of East Asia grow ever stronger, their need for energy resources increases, which in turn compels closer relations with the countries of the Middle East. This book examines the developing relations between the countries of East Asia, especially China and Japan, with the countries of the Middle East. It looks at various key bilateral relationships, including with Iran and Syria, discusses the impact on the United States’ hegemony in both regions, considers whether the new relations represent a contribution to, or a threat to, peace and stability, and assesses the implications of the changes for patterns of regional and global international relations systems.


Global Finance In Emerging Market Economies

Global Finance in Emerging Market Economies PDF

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Author: Todd A. Knoop
Publisher: Routledge
ISBN: 0415501210
Size: 32.11 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 302
View: 1134

Book Description: Emerging market economies have accounted for three quarters of world economic growth and more than half of world output over the last decade. But the energy and ideas inherent in emerging economies cannot generate growth by themselves without resources to support them -- and first among these resources is money which is needed to purchase the capital and knowhow that turn ideas and initiative into income. How do emerging economies rich in resources other than money get money? This question encapsulates what emerging market finance is all about, and why finance is absolutely crucial to economic development. In emerging countries, most of the population does not have access to bank accounts or financial markets to save or borrow. The result is that many firms cannot get access to financial resources to grow, while households cannot borrow and save in ways that could reduce the riskiness and poverty of their lives. Even those that do have access to formal finance find that credit is unreliable and expensive. These financial failures limit growth and also increase the frequency of costly financial crises. These issues, and many more like them, mean that finance in emerging economies is different and often more complex than the view presented in most textbooks, where finance is only considered from the perspective of wealthy, developed economies. This book addresses this failure by focusing on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. This book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies. The final chapters describe and compare financial systems within the four different regions that encompass most emerging economies: Sub-Saharan Africa, the Middle East, Asia, and South America.


Market Microstructure In Emerging And Developed Markets

Market Microstructure in Emerging and Developed Markets PDF

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Author: H. Kent Baker
Publisher: John Wiley & Sons
ISBN: 1118421485
Size: 37.47 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 544
View: 2138

Book Description: A comprehensive guide to the dynamic area of finance known asmarket microstructure Interest in market microstructure has grown dramatically inrecent years due largely in part to the rapid transformation of thefinancial market environment by technology, regulation, andglobalization. Looking at market transactions at the most granularlevel—and taking into account market structure, pricediscovery, information flows, transaction costs, and the tradingprocess—market microstructure also forms the basis ofhigh-frequency trading strategies that can help professionalinvestors generate profits and/or execute optimal transactions. Part of the Robert W. Kolb Series in Finance, MarketMicrostructure skillfully puts this discipline in perspectiveand examines how the working processes of markets impacttransaction costs, prices, quotes, volume, and trading behavior.Along the way, it offers valuable insights on how specific featuresof the trading process like the existence of intermediaries or theenvironment in which trading takes place affect the price formationprocess. Explore issues including market structure and design,transaction costs, information flows, and disclosure Addresses market microstructure in emerging markets Covers the legal and regulatory issues impacting this area offinance Contains contributions from both experienced financialprofessionals and respected academics in this field If you're looking to gain a firm understanding of marketmicrostructure, this book is the best place to start.


Investment Funds In Emerging Markets

Investment Funds in Emerging Markets PDF

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Author: Teresa Barger
Publisher: World Bank Publications
ISBN: 9780821336762
Size: 24.50 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 71
View: 314

Book Description: World Bank Discussion Paper No. 326. Draws on the successful experiences of five East Asian economies--Japan, the Republic of Korea, Singapore, Taiwan (China), and Hong Kong--to show how they have exploited the opportunities made possible by the information technology revolution and built sustainable competitive advantages in many high-value-added industries and services. The study examines the role of government in unleashing private-sector response, promoting the information technology industry, diffusing technology, and focusing resources on strategic elements of the national information infrastructure. It also explores the role of the private sector in influencing the development and use of the new technologies.


The Housing Cycle In Emerging Middle Eastern Economies And Its Macroeconomic Policy Implications

The Housing Cycle in Emerging Middle Eastern Economies and its Macroeconomic Policy Implications PDF

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Author: Samya Beidas-Strom
Publisher: International Monetary Fund
ISBN: 1452724822
Size: 46.70 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 29
View: 2027

Book Description: This paper examines housing finance and housing price dynamics in selected emerging Middle Eastern economies over the past two decades. It finds that (i) mortgage markets have experienced rapid development, which has led to lower private per capita consumer spending volatility this decade; (ii) a downward price correction occurred in the housing market after 2007, which appears to have bottomed out; (iii) the rental market appears to be largely determined by region-specific economic fundamentals-a youthful working-age population and wealth variables; and (iv) a segregation between self-owned house and rental price dynamics exists in this region, rendering the former more sensitive to the business cycle.


Privatization And Emerging Equity Markets

Privatization and Emerging Equity Markets PDF

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Author: Ira W. Lieberman
Publisher: World Bank Publications
ISBN: 0821341871
Size: 18.67 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 144
View: 199

Book Description: The text provides an overview of privatization and emerging equity markets describes the role of privatization providing critical mass for new stock markets and examines investment opportunities that deepen existing stock markets.


The Politics Of Equity Finance In Emerging Markets

The Politics of Equity Finance in Emerging Markets PDF

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Author: Kathryn C. Lavelle
Publisher: Oxford University Press
ISBN: 0195174097
Size: 49.57 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 273
View: 5975

Book Description: Emerging market stock issuance relative to GDP rose in the late twentieth century to levels that roughly matched that of advanced, industrial markets. Nonetheless, the connection between owning shares of emerging market stock and the ability to influence the management of these firms remains fundamentally different from the analogous institutional connection that has evolved in industrial markets. The reasons for the differences in emerging markets are both historical and political in nature. That is, local equity markets have had the objective of providing for some degree of local ownership and control of large economic entities since the late nineteenth century. However, local markets have operated under different global political structures since that time, ranging from imperialism, to world wars, to sovereign developmental states, to neo-liberal states. Shares issued under these different structures have been reconfigured over time, resulting in a lack of convergence along either the Anglo-American or Continental models of corporate governance. The author uses a political science paradigm to explain the growth of emerging equity markets. She departs from conventional economic explanations and examines politics at the micro-level of large issues of emerging market stock. The second half of the book presents case studies dealing with emerging market countries in Latin America, Asia, Russia and Eastern Europe, Africa and the Middle East. The case studies connect the regional, state, and firm levels to detail the multiple ownership and control arrangements, and to dispel the notion that mere quantitative growth of these markets will lead to a convergence in financial institutional structures along the lines of the industrial core of the world economy.