The study of the rate of convergence in the stock exchange market of the persian gulf countries

• DOI: 10.4314/jfas.v8i2s.127
• Publication Date: 2018-03-12T15:08:58Z
• Authors: M Ali Azizi; F Asgari; V Hajihassani; F Owliazadeh
• Keywords: Stock (firearms)

Stock exchange is one of the main pillars and principles country’s economy paying attention to this organization not only flourishes promotes it, but also causes growth development national economy. For reason, factors that affect should be analyzed develop it through obtained results. Sudden shocks market, global financial crises increase vitality stock returns at an international level during past years have created some concerns managers investors. The study presenceand absence effectiveness markets from each other can significantly help prediction timely performance these crises. This used price index Persian Gulf countries available on formal informational databases for 5 (2005-2010) as daily in order long-term convergence between countries. In study, relationship indices was examined by correlation analysis method stationary series related country Augmented Dicky Fuller test long term Johansson cointegration method. results show most a high significant. both tested methods max-Eigenvalue proved 3 equations Static Traceproved 6 0/05 significance level.Keywords: correlation, convergence, cointegration,