04792oam 22012134 450 991096125650332120251116183838.0978661382134897814623921791462392172978145279352814527935229781282448155128244815397814519899841451989989(CKB)3360000000443172(EBL)3014313(SSID)ssj0000939901(PQKBManifestationID)11519253(PQKBTitleCode)TC0000939901(PQKBWorkID)10937614(PQKB)10985873(OCoLC)174996515(IMF)WPIEE2006187(MiAaPQ)EBC3014313(IMF)WPIEA2006187WPIEA2006187(EXLCZ)99336000000044317220020129d2006 uf 0engurcnu||||||||txtccrThe Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance? /Martin Petri, Tahsin Saadi Sedik1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (38 p.)IMF Working Papers"August 2006."9781451864472 1451864477 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 countriesAsset pricesimfDeflationimfEmerging and frontier financial marketsimfFinanceimfFinance: GeneralimfFinancial InstrumentsimfFinancial Markets and the MacroeconomyimfFinancial services industryimfGeneral Financial Markets: General (includes Measurement and Data)imfInflationimfInstitutional InvestorsimfInvestment & securitiesimfInvestments: StocksimfMacroeconomicsimfMarket capitalizationimfNon-bank Financial InstitutionsimfPension FundsimfPrice LevelimfPricesimfStock exchangesimfStock marketsimfStocksimfJordanimfStock exchangesCointegrationAsset pricesDeflationEmerging and frontier financial marketsFinanceFinance: GeneralFinancial InstrumentsFinancial Markets and the MacroeconomyFinancial services industryGeneral Financial Markets: General (includes Measurement and Data)InflationInstitutional InvestorsInvestment & securitiesInvestments: StocksMacroeconomicsMarket capitalizationNon-bank Financial InstitutionsPension FundsPrice LevelPricesStock exchangesStock marketsStocksPetri Martin1816510Saadi Sedik Tahsin1623481International Monetary Fund.Middle East and Central Asia Department.DcWaIMFBOOK9910961256503321The Jordanian Stock Market—Should You Invest in It for Risk Diversification or Performance4372955UNINA