The Impact of the Macroeconomic Factors on the Bucharest Stock Exchange during the Latest Crisis

Cristina Balint

Romanian Economic Journal, 2023, vol. 26, issue 86, 54-66

Abstract: The purpose of the paper is to observe and analyze how the dynamics of macroeconomic factors impact the evolution of the Bucharest Stock Exchange (BVB) during the latest crisis (Covid-19 pandemic and the Ukrainian war), through the lens of various market stock indices (BET, BetPlus, BET-FI and BET-NG). After the monthly values of both the macroeconomic factors (inflation rate, unemployment rate, RON-EURO exchange rates, industrial production index, average salary, money supply, interest rate and oil price) and Bucharest Stock Exchange indices were collected, during the period January 2020- June 2023, the descriptive statistics was used to describe all the observed data (mean value, standard deviation, minimum/ maximum value). Finally, the multiple regression was used to see exactly how the Romanian stock market indices are influenced by any changes of macroeconomic factors.

Keywords: Bucharest Stock Exchange; macroeconomic factors; stock market indices; Ukrainian war; Covid-19 pandemic (search for similar items in EconPapers)
JEL-codes: B22 C32 G10 (search for similar items in EconPapers)
Date: 2023
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