EXCHANGE RATE MOVEMENTS AND STOCK PRICES: A REVIEW OF EMPIRICAL LITERATURE

Amir Rehman () and Khalid Ashraf Chisti ()
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Amir Rehman: University of Kashmir, India
Khalid Ashraf Chisti: University of Kashmir, India

The USV Annals of Economics and Public Administration, 2020, vol. 20, issue 1(31), 162-173

Abstract: Exchange rate and stock prices has grabbed the attention of researchers and had been a subject of empirical research for some decades now especially in the wake of events like Asian financial crisis and global recession. Exchange rates are said to effect stock prices, while a few argue that stock prices in turn effect exchange rates, this disagreement among the researchers has left the question open for research. This article attempts to review the existing empirical literature available on the subject and separating it into two (1) studies based on causality and Cointegration (2) studies based on volatility spillover. This article also tries to offer brief summary of each study for convenient understanding of researchers. Lastly, new direction for future research has been provided.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:scm:usvaep:v:20:y:2020:i:1(31):p:162-173

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