كفاءة الأسواق المالية و إمكانية التكامل المالي بين دول مجلس التعاون لدول الخليج العربي

Abstract EN

This paper aims to examine the ineffeciency of Gulf stock markets and the possibility of economic integration in GCC countries: Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates, Qatar, and Oman, for the period (June 2005-March 2013).

The study used unit root and co-integration tests to analyze the long-term relationship among stock market indices.

The empirical results of this study show that the null-hypotheses of random walk are not accepted.

The study also found a high degree of co-movement among these indices, indicating the possibility of integration.