The relationship between broad money and stock prices in Malaysia: An error correction model approach
The purpose of this study is to investigate the empirical relationship between money supply, and stock prices in the Kuala Lumpur Stock Exchange (KLSE), using monthly data that span from January 1984 to September 1992. Specifically, we test for market informational efficiency in KLSE by testing the...
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| Format: | Article |
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Penerbit Universiti Kebangsaan Malaysia
1998
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| Online Access: | http://journalarticle.ukm.my/1342/ |
| _version_ | 1848809502900486144 |
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| author | Muzafar Shah Habibullah, |
| author_facet | Muzafar Shah Habibullah, |
| author_sort | Muzafar Shah Habibullah, |
| building | UKM Institutional Repository |
| collection | Online Access |
| description | The purpose of this study is to investigate the empirical relationship between money supply, and stock prices in the Kuala Lumpur Stock Exchange (KLSE), using monthly data that span from January 1984 to September 1992. Specifically, we test for market informational efficiency in KLSE by testing the causal relationship between money supply, M3 and stock prices using the cointegration technique. Results from our Error Correction models suggest that the informational efficiency markets hypothesis can be rejected for the KLSE |
| first_indexed | 2025-11-14T23:15:38Z |
| format | Article |
| id | ukm-1342 |
| institution | Universiti Kebangasaan Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T23:15:38Z |
| publishDate | 1998 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | ukm-13422011-08-16T02:39:48Z http://journalarticle.ukm.my/1342/ The relationship between broad money and stock prices in Malaysia: An error correction model approach Muzafar Shah Habibullah, The purpose of this study is to investigate the empirical relationship between money supply, and stock prices in the Kuala Lumpur Stock Exchange (KLSE), using monthly data that span from January 1984 to September 1992. Specifically, we test for market informational efficiency in KLSE by testing the causal relationship between money supply, M3 and stock prices using the cointegration technique. Results from our Error Correction models suggest that the informational efficiency markets hypothesis can be rejected for the KLSE Penerbit Universiti Kebangsaan Malaysia 1998 Article PeerReviewed Muzafar Shah Habibullah, (1998) The relationship between broad money and stock prices in Malaysia: An error correction model approach. Jurnal Ekonomi Malaysia, 32 . ISSN 0127-1962 http://www.ukm.my/~penerbit |
| spellingShingle | Muzafar Shah Habibullah, The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title | The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title_full | The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title_fullStr | The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title_full_unstemmed | The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title_short | The relationship between broad money and stock prices in Malaysia: An error correction model approach |
| title_sort | relationship between broad money and stock prices in malaysia: an error correction model approach |
| url | http://journalarticle.ukm.my/1342/ http://journalarticle.ukm.my/1342/ |