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Record Nr. |
UNINA9910788524603321 |
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Titolo |
The Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance? |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-9217-2 |
1-4527-9352-2 |
1-282-44815-3 |
9786613821348 |
1-4519-8998-9 |
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Descrizione fisica |
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1 online resource (38 p.) |
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Collana |
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Soggetti |
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Stock exchanges - Arab countries |
Cointegration - Arab countries |
Finance: General |
Investments: Stocks |
Macroeconomics |
General Financial Markets: General (includes Measurement and Data) |
Pension Funds |
Non-bank Financial Institutions |
Financial Instruments |
Institutional Investors |
Price Level |
Inflation |
Deflation |
Financial Markets and the Macroeconomy |
Finance |
Investment & securities |
Stock markets |
Stocks |
Emerging and frontier financial markets |
Asset prices |
Market capitalization |
Stock exchanges |
Financial services industry |
Prices |
Jordan |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references (p. 35-36). |
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Nota di contenuto |
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""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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Sommario/riassunto |
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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. |
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