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This paper explored the new features of emerging stock markets, in order to point out the most associated indicators of increasing stock return volatility, which may lead to instability of emerging markets. The study covers a sample of five geographical areas of emerging economies, including Mexico, Korea, South Africa, Turkey, and Malaysia. It used the backward multiple‐regression technique to examine the relationship between monthly changes of stock price indices as dependent variable and the associated predicting local as well as international variables, which represent possible causes of increasing price volatility and initiating crises in emerging stock markets. The study covered monthly data for a period of forty‐eight months from January 1997 to December 2000. The study revealed that stock trading volume and currency exchange rate respectively represent the highest positive correlation to the emerging stock price changes; thus represent the most predicting variables of increasing price volatility. International stock price index, deposit interest rate, and bond trading volume were moderate predicting variables for emerging stock price volatility. While changes in inflation rate showed the least positive correlation to stock price volatility, thus represents the least predicting variable.

A new environment has evolved in the international stock markets, as expressed by the occurrence of market crises and high swings of stock prices. The stock prices are supposed to respond to real data under the market efficiency hypothesis. However, in some cases, price fluctuation is influenced by other conditions which may lead to a crisis. This paper discusses the issue based on the opinions of the stock market experts. The Amsterdam Stock Exchange (ASE) has been selected as a case for this research. The study indicates there is no significant difference among the perceptions of the three groups of ASE stock market experts concerning nine stated conditions which may lead to a stock market crisis, while significant differences exist among the ASE brokers, bankers and specialists concerning six stated elements that minimize the probability of evolving a stock market crises. There is a positive association among the groups of Amsterdam stock market experts about the total conditions that may lead to a stock market crisis, but there is no association concerning the total elements that minimize the probability of evolving a stock market crisis.

This study examines laws regarding the legal features of traded shares in 25 developed and emerging economies. Included are civil and common laws in South and North America, Eastern and Western Europe, South Asia, Australia, and Middle Eastern countries. Significant changes have been implemented during the last two decades, especially those related to harmonization of corporate governance principles, best practices, and codes of conduct concerning stock trading. However, there are still significant differences among types of shares traded in world stock markets which may have different responds in case of high price volatility.

This study aims to analyze major concerns facing the Palestinian local governments in order to increase efficiency, effectiveness, and transparency in managing local governments.

A special questionnaire was developed to collect the perception of the municipalities' officials; thus qualitative data analysis has been done to analyze the answers.

The study found that the efficiency of local government is still limited in the Palestinian municipalities, including the absence of an internal auditor, the absence of written job descriptions for municipality functions, the weakness participation of the public. The study pointed out that the major‐managerial problems are similar to other experiences of emerging countries such as the undefined local‐central relation, the low participation and involvement of citizens in municipalities' activities and plans, and the lack of existing transparency aspects.

There is a need for open public‐official sessions of municipal councils and the need for periodical meetings for senior officials with the Mayer of the municipality; in addition, there is a need to conduct annual periodical evaluation for measuring the performance of municipal employees.

This paper presented the features of the local‐government performance in Palestine in order to enhance the management efficiency of local governments and enhance the contribution of the related groups of communities.