The Impact of Macroeconomic Variables on Al-Quds Index: Empirical Evidence from Palestine

Ibrahim Awad, Mohanad Rezeq and Abdelrahman Aliwisat

International Journal of Financial Economics, 2014, vol. 3, issue 4, 228-241

Abstract: This study aimed at investigating the impact of macroeconomic variables, particularly GDP, CPI, unemployment, exchange rate, and interest rate on the Al-Quds Index (AQI). Also, the causality relationships between these variables were examined. Toward that end, the study used quarterly data observations over the period from 2002 to 2012. Accordingly, the study found that AQI isn’t significantly linked with macroeconomic variables. Granger causality indicates that AQI does not Granger causes the macroeconomic variables that been tested, and the macroeconomic variables also do not Granger cause the AQI, so that the macroeconomic variables cannot explain the behavior of the AQI due to the inefficiency of the AQI. For policy makers, this study confirms the necessity of future researches so as to significantly evaluate the Palestine Exchange (PEX).

Keywords: Granger Causality test; Macroeconomic Variables; Palestine Exchange; Regression Analysis; and Stationarity. (search for similar items in EconPapers)
Date: 2014
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