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Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7353
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
This paper investigates the impact of business and political news on stock market returns in the Gulf Cooperation Council (GCC) countries. For this purpose, it employs a Markov switching model including a separate index for each of the two categories of news considered. The results indicate the importance of news as drivers of GCC stock returns, with business news playing a more substantial role; further, news released in the largest financial markets in the regions are found to have significant cross-border effects.
Schlagwörter: 
business news
GCC countries
Markov switching model
political news
JEL: 
C32
F36
G15
Dokumentart: 
Working Paper
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