Foreign shocks and international cost of equity destabilization. Evidence from the MENA region

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dc.contributor.authorGuyot, Alexis
dc.contributor.authorLagoarde-Segot, Thomas
dc.contributor.authorNeaime, Simon
dc.contributor.departmentDepartment of Economics
dc.contributor.facultyFaculty of Arts and Sciences (FAS)
dc.contributor.institutionAmerican University of Beirut
dc.date.accessioned2025-01-24T11:23:13Z
dc.date.available2025-01-24T11:23:13Z
dc.date.issued2014
dc.description.abstractThis paper investigates whether foreign financial shocks can destabilize the cost of equity in emerging markets. After a theoretical discussion, we develop annual metrics for the international cost of equity, financial integration, spillovers and shift-contagion vulnerability in a sample of 535 Middle East and North African firms from Egypt, Tunisia, Morocco and Jordan over the 1998-2011 period. We then analyze the impact of foreign shocks on the international cost of equity, using a set of SGMM and PVAR models. Our results indicate that external shocks can increase the cost of equity in mature emerging markets. © 2014.
dc.identifier.doihttps://doi.org/10.1016/j.ememar.2014.01.003
dc.identifier.eid2-s2.0-84893779466
dc.identifier.urihttp://hdl.handle.net/10938/25634
dc.language.isoen
dc.relation.ispartofEmerging Markets Review
dc.sourceScopus
dc.subjectDevelopment
dc.subjectFinancial crises
dc.subjectMena region
dc.titleForeign shocks and international cost of equity destabilization. Evidence from the MENA region
dc.typeArticle

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