Relationship between Stock Prices and Macroeconomic Variables in Emerging Markets

被引：0
|
作者：
Babajee, Bhattu [1 ]
Ramdhany, Narvada Gopy [1 ]
Seetanah, Boopen [1 ]
Sookha, Tulsi [1 ]
机构：
[1] Univ Mauritius, Reduit 80837, Mauritius
来源：
EDAMBA 2018: INTERNATIONAL SCIENTIFIC CONFERENCE FOR DOCTORAL STUDENTS AND POST-DOCTORAL SCHOLARS: CAPACITY AND RESOURCES FOR SUSTAINABLE DEVELOPMENT: THE ROLE OF ECONOMICS, BUSINESS, MANAGEMENT AND RELATED DISCIPLINES | 2018年
关键词：
Stock Prices; Macroeconomic Variables; Emerging Markets; EXCHANGE-RATES; RETURNS; INFLATION; PORTFOLIOS; VALUATION;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The relationship between stock prices and macroeconomic variables has been of interest to many researchers. But so far a definitive conclusion about this relationship has not yet been reached. This relationship varies from country to country due to the economic structure. The key objective of the present study is to investigate the impact of changes in selected macroeconomic variables namely inflation, interest rate and exchange rate on stock prices in five emerging countries including Mauritius, Brazil, India, Russia and Nigeria. A panel approach was employed in this research using monthly data from June 2008 to September 2014. The results obtained revealed a significant positive relationship between inflation and stock prices and a significant negative relationship between exchange rate and stock prices. However interest rate which was represented by the lending rate has an insignificant relationship with stock prices.
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页码：8 / 23
页数：16
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