A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2019; you can also visit the original URL.
The file type is application/pdf.
Stock Market Prices and the Macroeconomics of Emerging Economies: the Case of India
2018
Dynamic Econometric Models
Preserved Fulltext
A b s t r a c t. This paper investigates the relationship between stock prices and selected macroeconomic variables in India. The empirical results suggest that, in the long run, output growth and the exchange rate are positively related to stock prices, while money supply exhibits a negative relationship to stock market prices. In the short run most of the variation in the stock market is captured by its own innovation, although the exchange rate, the price level and the interest rate seem to
doi:10.12775/dem.2018.002
fatcat:svfb5pc37fh3rft6qkj2fp35xa