Egyptian Markets Research Articles

Sentimental Herding: The Role of Regional and Global Shocks in Egyptian and Saudi Stock Markets

In this study, the existence of market-wide herding for Egypt and Saudi stock markets is investigated using state-space methodology developed by Hwang and Salmon (2004). The objective is not just to provide evidence for herding, but also evaluate the effect of regional and global shocks on herding behavior for these markets. Results show that herding exists only in Egypt. Moreover, for herd parameter in Egypt, mortgage crisis and Egyptian military takeover are the only significant factors. As expected, these factors cause fading effect on herd parameter, strengthening adverse herding. Contrary to expected, oil return or oil return volatility has no impact on herd parameter.

Assessment of Some Trace Elements in Some Dairy Products and Table Eggs Retailed in Egyptian Markets

The aim of this study was to determine the content of lead, cadmium, aluminum, copper and mercury in some dairy products and hen’s egg samples (80 samples) collected from different supermarkets in Kalyobia Governorate, Egypt. All collected samples were homogenized and packed in polyethylene bags and stored below -20 C prior to analysis. Atomic absorption spectrometer was used for analysis of metals. Results revealed that lead and copper were found above the permissible limit (Pl) in all types of cheeses while, aluminum and copper only were below the permissible limits in milk powder (0.97 ± 0.07 and 0.15 ± 0.002) mg/kg; respectively. The mean of heavy metals levels (mg/kg) for home produced and fresh egg samples were 0.28 ± 0.03 and 0.36 ± 0.025 for lead; 0.10 ± 0.006 and 0.15 ± 0.07 for aluminum; 2.84 ± 1.01 and 3.00 ± 0.92 for copper and 0.17 ± 0.09 and 0.52 ± 0.11 for mercury, respectively, while cadmium couldn’t be detected from any of the examined samples. It was concluded that the imported whole milk powder was polluted with some heavy metal residues especially lead; cadmium and mercury in compared with other examined dairy products. Home produced eggs are less contaminated by heavy metals than commercial eggs.

International Diversification Benefits between US, Turkish and Egyptian Stock Markets

International portfolio diversification benefits between US stock markets and corresponding markets in Turkey and Egypt are examined from a short- and long-term perspective. The Johansen cointegration procedure reveals cointegration at the general index level related to some but not all sub-indexes investigated. Granger causality indicates, in general, causality running between USA and Turkey but only isolated cases involving Egypt. Overall, the results suggest that US investors can obtain diversification benefits at a sub-index level given a long-term investment horizon restricted to positions in one but not both Middle Eastern markets in one and the same portfolio. Short-term benefits involve the Egyptian market related to two out of three sub-indexes.

HEALTH HAZARDS ASSOCIATED WITH RAW MILK IN EGYPTIAN MARKETS

HEALTH HAZARDS ASSOCIATED WITH RAW MILK IN EGYPTIAN MARKETS

The Suitability of US Security Laws and Regulations to serve as a Model Law for Egyptian Financial Markets

The Suitability of US Security Laws and Regulations to serve as a Model Law for Egyptian Financial Markets

Organochlorine and Organophosphonis Pesticide Residues in Food from Egyptian Local Markets

A market basket survey was conducted to monitor organochlorine and organophosphorus pesticide residues in potatoes, citrus fruits, and fish collected from local Egyptian markets. Maximum Residue Limits (MRLs) of the Codex Committee on Pesticide Residues for gamma-hexachlorocyclohexane (HCH) in potatoes were exceeded in 8 samples and for DDT in 2 samples. The aging of HCH and DDT indicated a recent use of both pesticides during the potato storage period between cultivation seasons. However, such use is illegal because HCH mixture isomers (gammaxane) and DDT have been officially prohibited from agricultural use in Egypt since 1980. The highest residue levels of fenitrothion (3.8 ppm) in potatoes may be due to its repeated use before and after harvest. No organochlorine pesticide residues were found in citrus fruits. None of the detected organophosphorus pesticides exceeded their MRLs. HCH and DDT residue limits were exceeded in 5 and 7 fish samples, respectively, collected from 12 markets throughout the country. The heptachlor MRL was violated in only one fish sample (3.9 ppm).