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Saudi’s Growth and Financial Spillovers to Other GCC Countries: An Empirical Analysis
Author:
Mr. Olumuyiwa S Adedeji
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,
Mr. Sohaib Shahid
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, and
Ling Zhu null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2018: Issue 278
Language:
English
Publication Date:
11 Dec 2018
DOI:
https://doi.org/10.5089/9781484388792.001
ISBN:
9781484388792
ISSN:
1018-5941
Pages:
17
Keywords:
WP; GCC country; GCC sovereign bond market spillover; Growth; Gulf Corporation Council; Spillovers; growth shock; equity market movement; GCC bond spread; GCC equity; Stock markets; Yield curve; Sovereign bonds; Oil prices; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi Arabia are found to have significant implications for other GCC countries, while there is no evidence of co-movements in bonds markets. These findings suggest some degree of interdependence among GCC countries.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund