Situating Middle East and and North Africa (MENA) capital markets within the emerging markets universe
نویسندگان
چکیده
The objective of this paper is to situate the MENA area within the emerging markets universe. We first discuss the various components of market emergence and generate four bootstrapped indexes reflecting market size, market activity, market pricing and transparency. We then draw inter-regional and country-level comparisons using a probit model and a hierarchical cluster analysis. Our results suggest that in spite of intra-regional heterogeneity, the MENA region ranks favorably by comparison to Latin America and Eastern Europe. We can therefore expect greater international financial integration of the MENA region in the near future. JEL classification: G11;G12;G15
منابع مشابه
IIIS Discussion Paper No.114/January 2006 Financial Contagion in Emerging Markets: Evidence from the Middle East and North Africa
The purpose of this paper is to investigate vulnerability to financial contagion in a set of expanding emerging markets of the Middle East and North Africa, during seven episodes of international financial crisis. Using Fry & Baur (2005) fixed-effect panel approach, we significantly reject the hypothesis of a joint regional contagion. However, using a battery of bivariate contagion tests based ...
متن کاملThe Elephants in the Room: Sex, HIV, and LGBT Populations in MENA. Intersectionality in Lebanon; Comment on “Improving the Quality and Quantity of HIV Data in the Middle East and North Africa: Key Challenges and Ways Forward”
In response to this insightful editorial, we wish to provide commentary that seeks to highlight recent successes and illuminate the often unspoken hurdles at the intersections of culture, politics, and taboo. We focus on sexual transmission and draw examples from Lebanon, where the pursuit of data in quality and quantity is teaching us lessons about the way forward and where we are experiencing...
متن کاملFood Security, Poverty, and Economic Policy in the Middle East and North Africa
In MENA, household food insecurity, which is closely related to poverty and undernourishment, is most severe in rural areas and concentrated within Iraq, Sudan, and Yemen. 25% of the MENA population may be poor and 7% undernourished. The key to increased national and household-level food security is pro-poor growth, driven by export-oriented, labor-intensive sectors. Agricultural sector policie...
متن کاملLow but Intensified Product Diversification
The expansion of transportation and high-speed communication networks throughout the world has increased the export opportunities of Middle East and North Africa (MENA) producers. It has also increased competition for the region's producers by helping companies in other countries and regions export to world markets as well. Countries in the MENA region occupy a place midway up the ladder of com...
متن کاملImproving the Quality and Quantity of HIV Data in the Middle East and North Africa: Key Challenges and Ways Forward
Although the HIV pandemic is witnessing a decline in the number of new infections in most regions of the world, the Middle East and North Africa (MENA) has a rapidly growing HIV problem. While generating HIV data has been consistently increasing since 2005, MENA’s contribution to the global HIV literature is just over 1% and the existing evidence often falls behind the academic standards. Sever...
متن کامل