Gold Price and Capital Market Movement in India: The Toda–Yamamoto Approach

P.K. Mishra
Additional contact information
P.K. Mishra: P.K. Mishra is Assistant Professor in Economics, Central University of Jharkhand. India. E-mail: pkmishra1974@gmail.com

Global Business Review, 2014, vol. 15, issue 1, 37-45

Abstract: In recent days gold has attracted the attention of common men, investors, policy makers and researchers. A hovering impression is that gold price increases whenever stock market slumps. In India such a scenario has been observed since last few years. It is with this backdrop, this article is an attempt to unveil any dynamics, if exist, between gold price and stock price movements using a sophisticated econometric tool, Toda and Yamamoto non-causality test. On the basis of the annual observations for the period 1978–1979 to 2010–2011, it has been found that both the prices have contained in themselves some information to predict each other.

Keywords: Gold price; capital market; India; Toda and Yamamoto test (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0972150913515597 (text/html)

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:sae:globus:v:15:y:2014:i:1:p:37-45

DOI: 10.1177/0972150913515597

Access Statistics for this article

More articles in Global Business Review from International Management Institute
Bibliographic data for series maintained by SAGE Publications ().