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The Jordanian Stock Market : Should You Invest in it for Risk Diversification or Performance? /

We analyze the performance of the Amman Stock Exchange (ASE) and its integration with other markets. Using cointegration techniques, we find that the ASE and other Arab stock markets are cointegrated, which implies little long-run risk diversification. However, there is no cointegrating relationship...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Petri, Martin
Autor Corporativo: International Monetary Fund
Otros Autores: Saadi-Sedik, Tahsin
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2006.
Colección:IMF Working Papers ; Working Paper no. 06/187.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 4 |a The Jordanian Stock Market :  |b Should You Invest in it for Risk Diversification or Performance? /  |c Petri, Martin. 
260 |a Washington, D.C. :  |b International Monetary Fund,  |c 2006. 
300 |a 1 online resource (38 pages) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF Working Papers,  |x 2227-8885 ;  |v Working Paper No. 06/187 
500 |a Available in PDF, ePUB, and Mobi formats on the Internet. 
520 3 |a We analyze the performance of the Amman Stock Exchange (ASE) and its integration with other markets. Using cointegration techniques, we find that the ASE and other Arab stock markets are cointegrated, which implies little long-run risk diversification. However, there is no cointegrating relationship between the ASE and other emerging or developed stock markets. Two of the main regional stock markets-Kuwait and Saudi Arabia-Grangercause the Jordanian stock market. The paper finds that there may have been some overvaluation at end-2005, but that the market correction in early 2006 and strong recent earnings growth have reduced overvaluation concerns. 
504 |a Includes bibliographical references (pages 35-36). 
505 0 |a Contents -- I. INTRODUCTION -- II. MAJOR DEVELOPMENTS OF THE JORDANIAN CAPITAL MARKET -- III. LINKAGES OF THE ASE TO MAJOR ARAB, EMERGING, AND DEVELOPED STOCK MARKETS -- IV. STRENGTHS, VULNERABILITIES, AND MACROECONOMIC LINKAGES OF THE ASE -- V. CONCLUSIONS -- REFERENCES 
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650 0 |a Stock exchanges  |z Arab countries. 
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650 7 |a Stock exchanges  |2 fast 
651 7 |a Arab countries  |2 fast 
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700 1 |a Saadi-Sedik, Tahsin. 
710 2 |a International Monetary Fund. 
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