The Impact of Stock Market Development on Inflation and Economic Growth of 16 Asian Countries: A Panel VAR Approach

Rudra P. Pradhan, Mak Arvin, Bele Samadhan and Shilpa Taneja

Applied Econometrics and International Development, 2013, vol. 13, issue 1, 203-218

Abstract: Empirical macroeconomists have investigated the possible link between the development of stock markets, economic growth, and inflation separately. Unlike earlier work, this paper investigates the nature of causal relations between these variables using a panel Granger causality test on a sample of 16 Asian countries over 1988-2012. Employing a panel vector autoregressive (VAR) model, our results also reveal that these variables are cointegrated, suggesting presence of a long-run equilibrium relationship among them.

Keywords: stock market developments; inflation; economic growth; panel VAR. (search for similar items in EconPapers)
JEL-codes: E31 E44 O43 O53 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://www.usc.es/economet/reviews/aeid13116.pdf
No.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eaa:aeinde:v:13:y:2013:i:1_16

Ordering information: This journal article can be ordered from
http://www.usc.es/economet/info.htm
mcarmen.guisan@usc.es

Access Statistics for this article

More articles in Applied Econometrics and International Development from Euro-American Association of Economic Development
Bibliographic data for series maintained by M. Carmen Guisan (mcarmen.guisan@usc.es).