Stock market as a nowcasting indicator for real investment

Stavros Degiannakis

MPRA Paper from University Library of Munich, Germany

Abstract: The paper proposes a novel method to assess whether real investment can be nowcasted based on information that is available on the stock market. The stock market index on a daily sampling frequency is assessed as a predictor of gross fixed capital formation on a quarterly sampling frequency. For France, Germany, Greece and Spain (four representative countries of eurozone), we find significant empirical evidence that the information from the stock market does produce accurate nowcasting values of gross fixed capital formation.

Keywords: Gross fixed capital formation; nowcasting; mixed frequency; predictor; real investment; stock market. (search for similar items in EconPapers)
JEL-codes: C53 E22 E27 G17 (search for similar items in EconPapers)
Date: 2021-12-31
New Economics Papers: this item is included in nep-cwa, nep-eec, nep-fdg, nep-fmk and nep-mac
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Related works:
Journal Article: Stock market as a nowcasting indicator for real investment (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:110914

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