Download or read book Trade Investment and Economic Growth written by Pooja Lakhanpal and published by Springer Nature. This book was released on 2021-05-10 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distributions, SEM, FMOLS and Probit models. In addition, detailed literature survey, discussions on data availability, issues related to statistical estimation techniques and a theoretical background, ensure that each chapter significantly contributes to the ever-growing literature on international trade and capital flows. The readers shall find an engaging dialogue on the crucial role played by policy and the trade-capital flows-growth experience of emerging economies. The book is relevant for those who are interested in contemporary issues in trade, growth and finance as well as for students of advanced econometrics who may benefit from the analytical and econometric exposition. The empirical evidences provided here could serve as ready reference for academicians, researchers and policy makers, particularly in emerging economies facing similar challenges.

Download or read book Business Economics Financial Sciences and Management written by Min Zhu and published by Springer Science & Business Media. This book was released on 2012-02-11 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt: A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume. Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Sciences, Management. It is hoped that the present book will be useful to experts and professors, both specialists and graduate students in the related fields.

Download or read book Impact of Macroeconomic Variables on Stock Market in India written by Sanjay Kumar Das and published by LAP Lambert Academic Publishing. This book was released on 2021-01-25 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market returns depend on the changes in the stock market index. In India, S&P BSE Sensex is considered as the pulse of the stock market. S&P BSE Sensex is the sensitive index of Bombay Stock Exchange (BSE), which is a value- weighted index, composed of 30 largest and most actively traded stocks. There have been limited studies on the linkage between the macro economy and stock prices in India. The purpose of this study is to investigate this linkage between macroeconomic variables and stock market returns with reference to S&P BSE Sensex as well as the linkage between macroeconomic variables and S&P BSE sectoral indices. The study also investigates the linkage between exchange rate and volatility of S&P BSE Sensex Returns.

Download or read book Do Macroeconomic Variables Impact the Indian Stock Market written by Khalid Ul Islam and published by . This book was released on 2019 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is intended to study the impact of various macroeconomic variables on Indian stock market. Based on the Arbitrage Pricing Theory (APT) propounded by Ross in 1976 and various other studies, a number of macroeconomic variables including, inflation, industrial production, exchange rate, money supply, interest rate, and oil price have been identified to have a significant impact on the stock market. We have applied the multivariate extension of the classical linear regression model computed on Ordinary Least Squares method and Granger Causality test to re-establish the relationship between macroeconomic variables and stock returns over a period of 10 years from 2005 to 2015 using monthly observations. The results of this study show that only exchange rate has a significant negative impact on stock returns. The other macroeconomic variables are not significantly affecting stock returns; however, their impact is in accordance with the economic theory. The Granger Causality test reveals absence of any causal relationship between stock returns and macroeconomic variables, except in case of oil prices, where we find a unidirectional causal relationship running from stock returns to oil prices. However, the Granger Causality results should not be taken in the conventional meaning of causality, but results merely identifying precedence.

Download or read book Effect of Select Macro Economic Variables on Stock Returns in India written by P. Sireesha and published by . This book was released on 2015 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to investigate the impact of select macroeconomic factors upon the movements of the Indian stock market index, Nifty along with gold and silver prices by using linear regression technique. The behavior of nominal and real returns at various levels of inflation, GDP, IIP and Money Supply is studied. The interdependence of the returns on stock, gold and silver is also identified.

Download or read book Impact of Macro Economic Variables of India and USA on Indian Stock Market written by Priyanka Aggarwal and published by . This book was released on 2019 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: The key objective of the present study is to investigate the impact of changes in selected macroeconomic variables on Indian stock market (Nifty 50 index). To estimate the relationship, multivariate regression model computed on standard ordinary linear square method have been used. The time period examined is 2001-2016 and all the tests are conducted based on monthly data. Based on estimated regression coefficients and t-statistics, it is found that nifty 50 index is significantly affected by US gross domestic product, S and P index, gold prices, Indian whole sale price index, its fiscal deficit, IPI and exchange rate.

Download or read book Indian Stock Returns and Macroeconomics written by Shivi Suhag and published by . This book was released on 2023-07-06 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indian stock returns refer to the performance or profitability of the Indian stock market over a certain period. It is a measure of the gains or losses an investor realizes from investing in Indian stocks. Stock returns can be calculated by comparing the current price of a stock with its purchase price, including any dividends received during the holding period.Macroeconomics, on the other hand, is a branch of economics that deals with the overall performance and behavior of the economy as a whole. It focuses on studying aggregates such as GDP (Gross Domestic Product), inflation, unemployment, interest rates, and other macroeconomic indicators to understand the functioning of the economy and make policy recommendations.The relationship between stock returns and macroeconomics is complex and intertwined. Macroeconomic factors play a significant role in influencing stock market performance. Here are some key macroeconomic variables that impact Indian stock returns: 1. GDP Growth: High GDP growth is generally associated with increased corporate profits and positive investor sentiment, leading to higher stock returns. Conversely, low or negative GDP growth can dampen investor confidence and result in lower stock returns.2. Inflation: Inflation refers to the general increase in prices of goods and services over time. Moderate inflation can be conducive to stock market performance as it indicates a growing economy. However, high inflation can erode purchasing power and negatively impact corporate profitability, leading to lower stock returns.3. Interest Rates: Changes in interest rates have a direct impact on the cost of borrowing and the attractiveness of different investment options. Lower interest rates generally favor stock market investments as they make equities more attractive relative to fixed-income securities. Conversely, higher interest rates may reduce stock market returns as investors shift towards safer fixed-income investments.4. Monetary Policy: The policies implemented by the Reserve Bank of India (RBI), such as adjustments to the repo rate or cash reserve ratio, can influence liquidity and credit conditions in the economy. Accommodative monetary policy measures can stimulate economic growth and boost stock returns, while tight monetary policy can have the opposite effect.5. Fiscal Policy: Government spending, taxation, and fiscal deficit also impact the stock market. Expansionary fiscal policies, such as increased government spending, can stimulate economic activity and have a positive effect on stock returns. Conversely, contractionary fiscal policies may dampen investor sentiment and lead to lower stock returns.It's important to note that stock market returns are also influenced by company-specific factors, market sentiment, investor behavior, and other variables apart from macroeconomic factors. Therefore, analyzing Indian stock returns requires considering a wide range of factors, including both macroeconomic indicators and specific market dynamics.

Download or read book Macroeconomic Variables and Security Prices in India during the Liberalized Period written by Tarak Nath Sahu and published by Springer. This book was released on 2016-01-01 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The liberalization and globalization of the Indian economy has made India more vulnerable to macro issues. This book provides a comprehensive analysis of the dynamic relationship between macroeconomic variables and stock prices in India. The research findings and policy implications discussed here may also be relevant for other emerging economies.

Download or read book The Impact of Macroeconomic Fundamentals on Stock Prices Revised written by Gurmeet Singh and published by . This book was released on 2016 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigates the relationships between the Indian stock market index (BSE Sensex) and five macroeconomic variables, namely, industrial production index, wholesale price index, money supply, treasury bills rates and exchange rates over the period January 2007 to March 2014. Johansen's co-integration and vector error correction model have been applied to explore the long-run equilibrium relationship between stock market index and macroeconomic variables. The analysis reveals that macroeconomic variables and the stock market index are co-integrated and, hence, a long-run equilibrium relationship exists between them. It is observed that the stock prices positively relate to the wholesale price index, money supply and interest rate but negatively relate to index of industrial production and exchange rate. The index of industrial production and the exchange rate are found to be insignificant in determining stock prices. In the Granger causality sense, there is bi-directional causality between exchange rate and stock market index and interest rate and stock market index. Interest rate causes stock market index in both long run and short-run. The findings show the evidence of causality from stock price index to wholesale price index in both long-run and short run but not other way around. Furthermore, it is observed from the findings that money supply causes stock prices only in the long-run but not in short run.

Download or read book Regional Aspects of Monetary Policy in Europe written by Jürgen von Hagen and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary union has dawned in Europe. Now that the common currency is a reality, questions concerning the practical conduct of monetary policy in the European Monetary Union (EMU) are moving to the forefront of the policy debate. Among these, one of the most critical is how the new monetary union will cope with the large heterogeneity of its member economies. Given the large differences in economic and financial structures among the EMU member states, monetary policy is likely to affect different member economies in different ways. Regional Aspects of Monetary Policy in Europe collects the proceedings of an international conference held at the Center for European Integration Studies of the University of Bonn, dedicated to this issue. The contributions to this conference fall into two parts. The first part consists of empirical and theoretical studies of the regional effects of monetary policy in heterogeneous monetary unions. The second part consists of papers analyzing the political economy of monetary policy in a monetary union of heterogeneous regions or member states. The papers all support the conclusion that regional differences in the responses to a common monetary policy will make European monetary policy especially difficult in the years to come. Such differences arise from a variety of sources, and they cannot be expected to be mere teething troubles that will disappear after a while. Even if they were ignored in the run-up to the EMU, Europe's central bankers and economic policy makers will have to learn how to cope with such differences in the future.

Download or read book The Effect of Macroeconomic Variables on Stock Returns in National Stock Exchange of India written by S. S. Ranasinghe and published by . This book was released on 2006 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Impact of Macro Economic Variables on the Stock Price Index written by Chhayakant Mishra and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the impact of Macro economic variable such as: Foreign Institutional Investment (FII), Economic Growth(Index of industrial production (IIP) as a proxy), Money supply (M3), Exchange Rate (E), Rate of Interest (RI) and Inflation on stock price index in India after the post liberalization period.The data sets have been considered from April,1993 to June,2012 on a monthly basis. All the required information for the study has been retrieved from the Hand book of Statistics on Indian Economy published by Reserve Bank of India (RBI), various issues of RBI and SEBI (Security and Exchange Board of India) bulletins. The Johansen's vector error correction model (VECM) has been employed to examine the objectives of the study. The study reveals that foreign institutional investment has positive impact on stock price index in India. The exchange rate and interest rate also influencing the fluctuation of the Stock Price but adversely

Download or read book Macro Economic Variables and Stock Prices in India written by Mubasher Hassan and published by LAP Lambert Academic Publishing. This book was released on 2014-10-31 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The government's conduct of macroeconomic policy plays a unique and pivotal role in managing economic stability at the national level.As macroeconomic policies that are properly crafted and implemented help overcome many constraints like information asymmetry and coordination failures amongst regulatory institutions and markets, besides; a stable macroeconomic environment enables financial intermediaries to employ savings in productive activities thereby offering handsome returns to investors. Owing to the growth and development of financial markets across emerging economies, particularly India with its domestic saving on the rise, the policy makers, financial markets professionals, research scholars and academia are faced with unprecedented challenges when it comes to understanding volatility in stock market returns, in this direction this book focuses on the influence of select macroeconomic variables on stock market returns in India and will be helpful for business and economics graduates in understanding interaction between various macroeconomic fundamentals and can also serve as first step for research scholars in the field of financial economics.

Download or read book The Effect of Macroeconomic Variables on Stock Prices written by Shivangi Singh and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between fundamental macroeconomic variables of the economy and stock markets is an essential one. It affects the perspective of monetary and fiscal policy decisions, portfolio management and economic development. It has been studied that macroeconomic variables can influence investors' investment decisions. Over the world, many researchers have investigated the relationships between stock market prices and various macroeconomic variables. The focus of the current paper is to investigate whether the share price index can be considered as a reflection of economic activities in India. This study investigates the impact of five selected macroeconomic variables on Stock Market Liquidity of S&P CNX Nifty. As a result of this analysis, a simple model of the influence of macroeconomic fundamentals on the stock market index has been suggested. For better stock market performance, policy makers should put in place measures that will ensure a stable macroeconomic environment.

Download or read book Interactions Between Macro Economic Variables and Stock Markets in India written by Rupinder Katoch and published by . This book was released on 2020 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the association of stock market performance with the variables which state the position of the economy as a whole has gained significant magnitude, given the quantum of efforts made by policy formulators, regulatory authorities, intellectuals, researchers and investors in this area. Present study explores and critically analyses the wide-ranging theoretical framework built by contributions of academic fraternity which has highlighted this rapport in their respective studies. Review of literature being conducted in two parts, the one focussing on conclusions drawn on the basis of variables used and the other on basis of models deployed. Variables based classified theory, clearly established that (Gross Domestic Product) GDP, Reserves of foreign currency, crude oil rates and gold prices have significant influence on stock behaviour, whereas other variables like inflation, level of interest, Money Supply, (Foreign Institutional Investors) FII and (Foreign Direct Investment) FDI inflows under divergent studies, do not show uniform impacts as varying form significant to non-significant association. Also, the study has recognised the change in trend in usage of models to predict relationship from traditional statistical models to technologically superior and less complicated econometrics tools used with fulfilment of less of preconditions. Need for a comprehensive and complete list of macroeconomic variables has also been realised.

Download or read book Effect of Macroeconomic Variables on Stock Market Returns for Four Emerging Economies written by Robert D. Gay and published by . This book was released on 2008 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Impacts of Macroeconomic Variables on the Stock Market Returns of South Asian Region written by Quazi Nur Alam and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is intended to find out whether macroeconomic variables may impact on stock market as well aswhether such impact has any country specific pattern. Stock market return was taken as dependent variable andreal interest rate, inflation rate, GDP growth rate, foreign currency reserve growth rate, fiscal deficit, FDI toGDP ratio, exchange rate were taken as independent variables. Data-set was covered from 1993 to 2019 for fiveSouth Asian countries which were Bangladesh, India, Pakistan, Sri Lanka, and Nepal. Pattern of stock marketas well as macro conditions of these countries was observed and it was found that some relationships existbetween the stock market returns and these chosen independent variables. Unit root test, Heteroscedasticty test,autocorrelation test, Hausman test is conducted to authenticate and clarified data to investigate relationshipnature. Granger Casualty test indicated that there exist cause and effect relationship between GDP growth rate,exchange rate, and stock market returns. Finally, regression test reveals that inflation rate and foreign currencyreserve growth rate have significant impact on the stock market returns. It was expected to have unique natureof different countries having versatile impact on dependent, so additionally fixed effects model and randomeffects model were run and it was found that random effects model is statistically appropriate throughconducting Hausman test. The test reveals that GDP growth rate, foreign currency reserve growth rate, andfiscal deficit positively impact on the stock market returns and these also support the literature review. Interestrates, inflation rate, FDI to GDP ratio and exchange rate have negatively impact the stock market return whereonly interest rate, inflation rate & exchange rate.