On the causal links between the stock market and the economy of Hong Kong
作者: Sin-Yu Ho Bernard Njindan Iyke
刊名: The Contemporary Economics, 2017, Vol.11 (3), pp.343-362
来源数据库: University of Finance and Management
原始语种摘要: Abstract(#br)A bulk of literature has identified the major economic drivers of Hong Kong’s rapid and steady economic performance over the last three decades. Of the major economic drivers identified, the performance of the stock market has received less attention. This paper examines the causal links between the stock market performance and economic performance of Hong Kong in an augmented VAR setting. Using an extended quarterly dataset that covers the period of 1986Q2–2014Q4 and the Toda-Yamamoto causality test, we find that stock market performance as proxied by the market capitalization ratio and economic performance stimulate each other. In addition, stock market performance as proxied by the total value traded ratio and economic performance influence each other. However, the...
全文获取路径: PDF下载  金融与管理大学 
分享到:

×
关键词翻译
关键词翻译
  • stock 岩株
  • market 市场
  • causal 因果
  • economic 经济的
  • economy 经济
  • between 在中间
  • augmented 增加的
  • performance 性能
  • capitalization 以大写字母开头
  • quarterly 每季