Macroeconomic influences on the stock market

被引：1
|
作者：
Hondroyiannis G. [1 ,2 ]
Papapetrou E. [3 ]
机构：
[1] Economic Research Department, Bank of Greece, 102 50 Athens
[2] Harokopio University, Athens
[3] University of Athens, Athens
来源：
Journal of Economics and Finance | 2001年 / 25卷 / 1期
关键词：
Exchange Rate; Interest Rate; Stock Market; Stock Return; Forecast Error Variance;
D O I：
10.1007/BF02759685
中图分类号：
学科分类号：
摘要：
The paper studies the dynamic interactions among indicators of economic activity, such as industrial production, interest rate and exchange rate, the performance of the foreign stock market, oil prices, and stock returns to examine whether economic activity movements affect the performance of the stock market for Greece. The empirical evidence suggests that stock returns do not lead changes in real economic activity while the macroeconomic activity and foreign stock market changes explain only partially stock market movements. Oil price changes explain stock price movements and have a negative impact on macroeconomic activity.
引用
收藏
页码：33 / 49
页数：16
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