Examining the impact of oil price fluctuations on the development of the transport industry: macroeconomic determinants in GCC countries

¹ College of Hospitality Industry Management, Suan Sunandha Rajabhat University, 1 U Thong Nok rd., Dusit, Bangkok, 10300, Thailand
² University “Turan”, 16A, Satpaeva, Almaty, 050013, Republic of Kazakhstan
³ Rostov State Transport University, 2, Narodnogo Opolchenia sq., Rostov-on-Don, 344038, Russia
⁴ IProcares International Research Center, 08-543938, Yanar street, Beirut, 00000, Lebanon

^* Corresponding author: denis.se@ssru.ac.th

Abstract

The sample nations are particularly relevant since they exhibit a wide range of growth rates, significant financial system features, and stock market development. Not in terms of profits to investors (beyond the scope of our study), but rather in terms of growth compared to the size of these economies and the capital expenditure fund demands of those nations, the research examines the expansion of the equities market and analyzes its international economic impact. To our knowledge, no systematic comparison of Arab capital markets to the many financial systems of the East Asian Pacific region or the seven major Western economies has ever been carried out. In addition, there are no real-world instances of the benefits of stock market output for economic development in Arab nations. While we survey the literature on the capital markets of 11 Arab states, including Bahrain, Saudi Arabia, Tunisia, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, and Qatar, our data analysis study zeroes down on only KSA. The research uses an econometric method that covers 10 years (from 2008 to 2018) to analyze the effects of oil prices, currency rates, and stock market performance in Saudi Arabia.