04415oam 22010814 450 991078852460332120230829002201.01-4623-9217-21-4527-9352-21-282-44815-397866138213481-4519-8998-9(CKB)3360000000443172(EBL)3014313(SSID)ssj0000939901(PQKBManifestationID)11519253(PQKBTitleCode)TC0000939901(PQKBWorkID)10937614(PQKB)10985873(OCoLC)174996515(MiAaPQ)EBC3014313(IMF)WPIEE2006187(EXLCZ)99336000000044317220020129d2006 uf 0engtxtccrThe Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance?Washington, D.C. :International Monetary Fund,2006.1 online resource (38 p.)IMF Working Papers"August 2006."1-4518-6447-7 Includes bibliographical references (p. 35-36).""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""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.IMF Working Papers; Working Paper ;No. 2006/187Stock exchangesArab countriesCointegrationArab countriesFinance: GeneralimfInvestments: StocksimfMacroeconomicsimfGeneral Financial Markets: General (includes Measurement and Data)imfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfPrice LevelimfInflationimfDeflationimfFinancial Markets and the MacroeconomyimfFinanceimfInvestment & securitiesimfStock marketsimfStocksimfEmerging and frontier financial marketsimfAsset pricesimfMarket capitalizationimfStock exchangesimfFinancial services industryimfPricesimfJordanimfStock exchangesCointegrationFinance: GeneralInvestments: StocksMacroeconomicsGeneral Financial Markets: General (includes Measurement and Data)Pension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsPrice LevelInflationDeflationFinancial Markets and the MacroeconomyFinanceInvestment & securitiesStock marketsStocksEmerging and frontier financial marketsAsset pricesMarket capitalizationStock exchangesFinancial services industryPricesInternational Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910788524603321The Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance3670967UNINA