IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2016y2016i8id1119p939-952.html
   My bibliography  Save this article

Akciový trh verzus reálna ekonomika a jej indikátor HDP
[The Stock Market versus the Real Economy and its Indicator GDP]

Author

Listed:
  • Božena Chovancová
  • Peter Árendáš

Abstract

The idea of a positive relation between the real economy and share markets used to be supported by long-term analyses during the 20th century. As a result, the share market was supposed to be a "mirror" of the economy. The share markets tended to outrun the GDP development by a couple of quarters. On the other hand some researchers keep on pointing at some anomalies in the relation between share markets and the real economy in the short-term to midd-term time horizon in some countries. This problem was fully to see over the first decade of the 21st century that was typical for the changes in the structure of the global economy as well as for the increasing frequency of share market bubbles without an adequate economic growth. The aim of this paper is to show a new perspective on the relation between the share market and the real economy and to seek the reasons of their often contradictory development.

Suggested Citation

  • Božena Chovancová & Peter Árendáš, 2016. "Akciový trh verzus reálna ekonomika a jej indikátor HDP [The Stock Market versus the Real Economy and its Indicator GDP]," Politická ekonomie, Prague University of Economics and Business, vol. 2016(8), pages 939-952.
    • Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1119:p:939-952
    DOI: 10.18267/j.polek.1119
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.1119.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.1119.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.1119?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    stock market; indicators of economic development; economic cycle; market capita-lization; derivatives on stock market;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1119:p:939-952. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.