GCC Financial Markets
The World's New Money Centers
Edited by Eckart Woertz
This study outlines the structure of various segments of Gulf Cooperation Council financial markets and points to regulatory challenges and future developments, ranging from capital market structures to the planned GCC Monetary Union, Islamic banking, and sovereign wealth funds.
Bond markets in the GCC countries are underdeveloped, and the capital mix is heavily skewed towards banks, while ambitious development plans in fields like petrochemicals and infrastructure, as well as a rapidly growing population, create an increased need for finance. This study outlines the structure of various segments of GCC financial markets and points to regulatory challenges and future developments, ranging from capital market structures to the planned GCC Monetary Union, Islamic banking, and sovereign wealth funds. The work brings together state-of-the-art analysis by international scholars who participated in a major joint initiative by the EU and the GCC, the al-Jisr Gulf-Europe Research Program.
Introduction 1. Future Direction of the GCC Financial Sector - a Specific Look at Banking and Asset Management Mandagolathur Raghu 2. Do GCC Stock Markets Support Their Domestic Economies: An Analytical Overview Randa Alami 3. GCC Bond Markets Michael P. Grifferty 4. Prospects of the Banking and Finance Sector and the Development of Financial Centers Eckart Woertz 5. The Determinants of Capital Structure Choice: Case of GCC Listed Companies Lamia A. Obay 6. Repercussions of Dubai's Debt Crisis Eckart Woertz 7. The Impact of Monetary Policy and Financial Sector Development on Economic Growth in GCC Countries Elias El-Achkar and Wassim Shahin 8. The Establishment of a Monetary Union among the Member States of the Gulf Cooperation Council Erwin Nierop and Gabriela Lippe-Holst 9. Approaches to Islamic Banking in the Gulf Rodney Wilson 10. Gulf Sovereign Wealth Funds in International Comparison Eckart Woertz 11. How Competitive are Gulf Economies? Kenneth Wilson About the Contributors
- Edited by Eckart Woertz
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