شماره ركورد كنفرانس :
4122
عنوان مقاله :
Benefits of inernational portfolio diversification: implication of the middle eastern oil - producint
پديدآورندگان :
Mohseniye Zonouzi Jamaledin Department of Economics, Faculty of Economics and Management, Urmia University, , Mansourfar Gholamreza Department of Accounting Finance, Faculty of Economics and Management, Urmia , Bagherzadeh Azar Fateme Master Graduated of Economics, Department of Economics, Faculty of Economics and
كليدواژه :
International portfolio diversification , Co , integration , Middle East oil , producing countries , ARDL , DCC GARCH
عنوان كنفرانس :
دومين كنفرانس بين المللي مديريت، كارآفريني و توسعه اقتصادي
چكيده فارسي :
Over the last decades, International Portfolio Diversification (IPD) has been the integral feature of global capital markets. Using Dynamic Conditional Correlation (DCC) model, this paper investigates opportunities of the short-run IPD benefits by investing in the Middle Eastern oil-producing countries. In addition, for the long-run linkage analysis, Autoregressive Distributed Lag approach (ARDL) is applied. It is found that, the market returns of the sampled countries are not definitely correlated in the short and long-term. The results imply that international portfolio investors may get the short and long-term diversification benefits by diversifying their portfolios among the Middle Eastern equity markets.JEL codes: G11, G15, C22
