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Macroeconomic variables and stock prices in emerging economies: A panel analysis

Author

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  • Raghutla CHANDRASHEKAR

    (Central University of Tamil Nadu, India)

  • P. SAKTHIVEL

    (Sastra University, Tamil Nadu, India)

  • T. SAMPATH

    (Telangana University, India)

  • Krishna Reddy CHITTEDI

    (University of Hyderabad, Telangana, India)

Abstract

This study aim to explore the role of the macroeconomic variables and stock prices for emerging economies perspective. Further, the study examines the association between the macroeconomic variable and stock prices across the panel of India and Brazil. The study utilizes monthly data from 2000M1-2016M08. We employ various panel econometric techniques. The findings confirm that the long run relationship between variables and unidirectional causality. The results also reveal that GDP, inflation, exchange rate, interest rate and stock prices play an important role in economic development.

Suggested Citation

  • Raghutla CHANDRASHEKAR & P. SAKTHIVEL & T. SAMPATH & Krishna Reddy CHITTEDI, 2018. "Macroeconomic variables and stock prices in emerging economies: A panel analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(616), A), pages 91-100, Autumn.
    • Handle: RePEc:agr:journl:v:3(616):y:2018:i:3(616):p:91-100
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    Cited by:

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    2. H. Kent Baker & Satish Kumar & Kirti Goyal & Prashant Gupta, 2023. "International journal of finance and economics: A bibliometric overview," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 9-46, January.
    3. Mrutyunjaya SAHOO & Praveen SAHU, 2023. "Does the effectiveness of money supply and foreign direct investment determine the industrial growth performance in India?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(635), S), pages 83-102, Summer.
    4. Shahbaz, Muhammad & Raghutla, Chandrashekar & Chittedi, Krishna Reddy & Jiao, Zhilun & Vo, Xuan Vinh, 2020. "The effect of renewable energy consumption on economic growth: Evidence from the renewable energy country attractive index," Energy, Elsevier, vol. 207(C).
    5. Endri Endri & Zaenal Abidin & Torang P. Simanjuntak & Immas Nurhayati, 2020. "Indonesian Stock Market Volatility: GARCH Model," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 16(2), pages 7-17.
    6. Goran Mojanoski, 2022. "Long-Run And Short-Run Causality Between Stock Price Indices And Macroeconomic Variables: Evidence Of Panel Vecm Analysis From Bosnia And Herzegovina, Croatia, North Macedonia And Serbia," Economic Review: Journal of Economics and Business, University of Tuzla, Faculty of Economics, vol. 20(2), pages 3-14, November.
    7. Chandrashekar Raghutla & Krishna Reddy Chittedi, 2021. "Financial development, real sector and economic growth: Evidence from emerging market economies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6156-6167, October.
    8. Shahbaz, Muhammad & Raghutla, Chandrashekar & Song, Malin & Zameer, Hashim & Jiao, Zhilun, 2020. "Public-private partnerships investment in energy as new determinant of CO2 emissions: The role of technological innovations in China," Energy Economics, Elsevier, vol. 86(C).
    9. Raghutla, Chandrashekar & Shahbaz, Muhammad & Chittedi, Krishna Reddy & Jiao, Zhilun, 2021. "Financing clean energy projects: New empirical evidence from major investment countries," Renewable Energy, Elsevier, vol. 169(C), pages 231-241.
    10. Raghutla, Chandrashekar & Padmagirisan, P. & Sakthivel, P. & Chittedi, Krishna Reddy & Mishra, Smrutisikta, 2022. "The effect of renewable energy consumption on ecological footprint in N-11 countries: Evidence from Panel Quantile Regression Approach," Renewable Energy, Elsevier, vol. 197(C), pages 125-137.

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