Advanced Search
MyIDEAS: Login

Macroeconomic variables and the performance of the Indian Stock Market

Contents:

Author Info

  • Naka, Atsuyuki

    (University of New Orleans)

  • Mukherjee, Tarun K.

    (University of New Orleans)

  • Tufte, David R.

    (University of New Orleans)

Abstract

In this paper we analyze relationships among selected macroeconomic variables and the Indian stock market. By employing a vector error correction model, we find that three long-term equilibrium relationships exist among these variables. Our results suggest that domestic inflation is the most severe deterrent to Indian stock market performance, and domestic output growth is its predominant driving force. After accounting for macroeconomic factors, the Indian market still appears to be drawn downward by a residual negative trend. We attribute this to economic mismanagement, since the size of the downward pull mitigates after 1990, coinciding with the beginning of Indian economic reforms.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://louisdl.louislibraries.org/cgi-bin/showfile.exe?CISOROOT=/EFW&CISOPTR=14
Our checks indicate that this address may not be valid because: 404 Page not found.. If this is indeed the case, please notify (Janet Murphy Crane)
Download Restriction: no

Bibliographic Info

Paper provided by University of New Orleans, Department of Economics and Finance in its series Working Papers with number 1998-06.

as in new window
Length: 31 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:uno:wpaper:1998-06

Contact details of provider:
Postal: New Orleans, Louisiana 70148
Phone: (504) 280-6485
Email:
Web page: http://www.uno.edu/~coba/econ/index.html
More information through EDIRC

Related research

Keywords: India; Bombay Stock Exchange; Cointegration; Johansen method; Identification;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Puah, Chin-Hong & Jayaraman, T. K., 2007. "Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji," MPRA Paper 37671, University Library of Munich, Germany.
  2. Al-Sharkas, A.A. , 2004. "Dynamic Relations Between Macroeconomic Factors and the Jordanian Stock Market," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 1(1), pages 97-114.
  3. Makan, Chandni & Ahuja, Avneet Kaur & Chauhan, Saakshi, 2012. "A Study of the Effect of Macroeconomic Variables on Stock Market: Indian Perspective," MPRA Paper 43313, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:uno:wpaper:1998-06. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Janet Murphy Crane).

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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