اختبار تكامل أسواق الأوراق المالية لدول مجلس التعاون الخليجي خلال الفترة (2010-2016)‎

الملخص EN

This study aims at revealing the integration and correlation of GCC stock markets.

Therefore, we have relied on quarterly data from the first quarter of 2010 to the fourth quarter of 2016 using a set of statistical tests consist of the following: Expanded Dicky Fuller test, JOHNSON'S JOINT INTEGRATION TEST and GARANGER'S CAUSING TEST.

The study concluded that the stock markets of the GCC countries are integrated, which led to achieving a relatively high coefficient of correlation.

The causal test showed that most relations between the GCC stock markets are one-way, indicating that they are at the beginning of their path of integration.