The connection between stock market prices and political support: evidence from Japan

被引：1
|
作者：
Ohmura, Hanako [1 ]
机构：
[1] Kwansei Gakuin Univ, Sch Policy Studies, Sanda 6691337, Japan
来源：
APPLIED ECONOMICS LETTERS | 2022年 / 29卷 / 01期
基金：
日本学术振兴会;
关键词：
Stock prices; political support VAR-LiNGAM; consumer confidence index;
D O I：
10.1080/13504851.2020.1854660
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study analyzes the causality between stock market prices and political support, with a focus on Japan. Japan offers a critical setting to control for the causality of political connectedness, because electoral institutions proscribe corporate donations and politicians holding concurrent corporate executive positions and corporate donations. By narrowing the causality from stock market trends to political components, a vector autoregressive linear non-Gaussian acyclic model reveals that stock prices are the cause (parent) and ruling party support is the outcome (child).
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页码：1 / 7
页数：7
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