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Emerging Markets and the Global Economy by Duc Khuong Nguyen, Sabri Boubaker, Mohammed Hedi Arouri

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Chapter 31

Determinants of International Financial Integration of GCC Markets

Abdullah R. Alotaibi and Anil V. Mishra,    School of Business, University of Western Sydney, Sydney, Australia,    E-mail: A.Alotaibi@uws.edu.au, a.mishra@uws.edu.au

Abstract

This study examines the determinants of international financial integration of the Gulf Cooperation Council (GCC) markets with the rest of the world by constructing several quantity-based measures of financial integration. The results provide strong evidence that Trade Openness; financial openness and Domestic Credit have positive and significant impact on GCC markets’ measures of international financial integration. We find a negative change in financial integration measures due to Trade Openness ...

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