Macroeconomic variables and stock prices in emerging economies: A panel analysis

Chandrashekar Raghutla (), P. Sakthivel, T. Sampath and Krishna Chittedi
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P. Sakthivel: Sastra University, Tamil Nadu, India
T. Sampath: Telangana University, India

Theoretical and Applied Economics, 2018, vol. XXV, issue 3(616), Autumn, 91-100

Abstract: This study aim to explore the role of the macroeconomic variables and stock prices for emerging economies perspective. Further, the study examines the association between the macroeconomic variable and stock prices across the panel of India and Brazil. The study utilizes monthly data from 2000M1-2016M08. We employ various panel econometric techniques. The findings confirm that the long run relationship between variables and unidirectional causality. The results also reveal that GDP, inflation, exchange rate, interest rate and stock prices play an important role in economic development.

Keywords: macroeconomic variables; stock prices; panel analysis. (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (12)

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