MACROECONOMIC FACTORS AND STOCK MARKET BEHAVIOUR: AN ANALYSIS OF THE 2008 CRISIS
نویسندگان
چکیده
This study investigates the long term relationship between behaviour of stock markets during 2008 crisis and some selected international macroeconomic variables using information from January 2005 to December 2015. The procedures Autoregressive Distributed Lag modeling techniques (ARDL) are employed for analysis. bounds testing procedure in ARDL framework is used test existence relationships market global economic factors (interest rate, exchange index industrial production oil price) as well direction effects, while estimated coefficients pattern among variables. revealed that a significant exists price movements these trends crash significantly impacted efficiency under review. Thus, it recommended fundamentals should remain capstone analysis, policies encourage delinking commodity factors.
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ژورنال
عنوان ژورنال: Facta Universitatis. Series: Economics and Organization
سال: 2021
ISSN: ['0354-4699', '2406-050X']
DOI: https://doi.org/10.22190/fueo200803026o