Impact of Macroeconomic Variables on Stock Markets: Evidence from Emerging Markets
By M. Barakat, Sara H. Elgazzar, K. Hanafy. 2015
161 citations recorded by the source corpus.
The key objective of this study is to shed light on the relationship between the stock market and macroeconomic factors in two emerging economies (Egypt and Tunisia) for the period from January 1998 to January 2014. Results indicated that there is a causal relationship in Egypt between market index and consumer price index (CPI), exchange rate, money supply, and interest rate. The same goes for Tunisia except for CPI, which had no causal relationship with the market index. Results also revealed that the four macroeconomic are co-integrated with the stock market in both countries.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/12c06a4a938a826a6211c08c4498145dd9e490d2
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Citations in the corpus
- Role of macroeconomic variables on firms’ performance: Evidence from the UK (2017, background): “…such as Brown and Ball (1967); McNamara and Duncan (1995); Boyd, Hu, and Jagannathan (2005); Stock and Watson (2008); Broadstock et al. (2011); and Barakat et al. (2016) suggested that the macroeconomic environment has a strong impact on firms’ financial positions, however, McNamara and Duncan…”