Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji

This paper seeks to investigate whether there is any causal relationship between capital stock prices and macroeconomic activities in Fiji. Empirical results show that all the time series data are nonstationary and cointegrated with a single vector. All the explanatory variables have been found to c...

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Main Authors:	Puah, Chin-Hong, Jayaraman, T.K
Format:	Monograph
Language:	English
Published:	Universiti Malaysia Sarawak, (UNIMAS) 2007
Subjects:	AC Collections. Series. Collected works HB Economic Theory HF Commerce
Online Access:	http://ir.unimas.my/3077/ http://ir.unimas.my/3077/1/Dynamic%2Blinkage%2Bbetween%2BMacroeconomic%2BActivities%2Band%2BStock%2BPrices%2Bin%2BFiji%20%282%29.pdf

id	unimas-3077
recordtype	eprints
spelling	unimas-30772016-04-14T07:14:35Z http://ir.unimas.my/3077/ Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji Puah, Chin-Hong Jayaraman, T.K AC Collections. Series. Collected works HB Economic Theory HF Commerce This paper seeks to investigate whether there is any causal relationship between capital stock prices and macroeconomic activities in Fiji. Empirical results show that all the time series data are nonstationary and cointegrated with a single vector. All the explanatory variables have been found to contribute to the long-run equilibrium relationship. The estimation of error-correction model further confirms that stock price index is cointegrated with real economic activities in the long run, and it adjusts rather fast from short-run deviations towards the long-run equilibrium level. Except for interest rate, real output, M2 and exchange rate do Granger cause stock prices in the short-run. Universiti Malaysia Sarawak, (UNIMAS) 2007 Monograph NonPeerReviewed text en http://ir.unimas.my/3077/1/Dynamic%2Blinkage%2Bbetween%2BMacroeconomic%2BActivities%2Band%2BStock%2BPrices%2Bin%2BFiji%20%282%29.pdf Puah, Chin-Hong and Jayaraman, T.K (2007) Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji. Working Paper. Universiti Malaysia Sarawak, (UNIMAS).
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Sarawak
building	UNIMAS Institutional Repository
collection	Online Access
language	English
topic	AC Collections. Series. Collected works HB Economic Theory HF Commerce
spellingShingle	AC Collections. Series. Collected works HB Economic Theory HF Commerce Puah, Chin-Hong Jayaraman, T.K Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
description	This paper seeks to investigate whether there is any causal relationship between capital stock prices and macroeconomic activities in Fiji. Empirical results show that all the time series data are nonstationary and cointegrated with a single vector. All the explanatory variables have been found to contribute to the long-run equilibrium relationship. The estimation of error-correction model further confirms that stock price index is cointegrated with real economic activities in the long run, and it adjusts rather fast from short-run deviations towards the long-run equilibrium level. Except for interest rate, real output, M2 and exchange rate do Granger cause stock prices in the short-run.
format	Monograph
author	Puah, Chin-Hong Jayaraman, T.K
author_facet	Puah, Chin-Hong Jayaraman, T.K
author_sort	Puah, Chin-Hong
title	Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
title_short	Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
title_full	Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
title_fullStr	Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
title_full_unstemmed	Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji
title_sort	dynamic linkage between macroeconomic activities and stock prices in fiji
publisher	Universiti Malaysia Sarawak, (UNIMAS)
publishDate	2007
url	http://ir.unimas.my/3077/ http://ir.unimas.my/3077/1/Dynamic%2Blinkage%2Bbetween%2BMacroeconomic%2BActivities%2Band%2BStock%2BPrices%2Bin%2BFiji%20%282%29.pdf
first_indexed	2018-09-06T14:55:38Z
last_indexed	2018-09-06T14:55:38Z
_version_	1610870412018712576

Dynamic linkage between Macroeconomic Activities and Stock Prices in Fiji

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