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اختبار العلاقة بين يوريبور وأسعار الأسهم في البورصات الناشئة دراسة قياسية خلال الفترة 1999- 2010
[Testing the relationship between EURIBOR and share prices in emerging stock markets Econometric study during the period 1999-2010]

Author

Listed:
  • Bennaceur, Fatma
  • Bendob, Ali

Abstract

This study aims to highlight the impact of policy lending by international banks in Europe on equity prices in emerging stock markets (Argentina, Mexico, Tel Aviv, Malaysia, Hong Kong) during the period 1999-2010, using linear regression models and the concept of Granger causality tests in 1988, the study concluded and there is a significant inverse relationship between the rate of lending between international banks in Europe (EURIBOR) and Equity prices in emerging stock markets, as there is a causal relationship with the importance in both directions between them, which calls for policymakers in developing countries, taking into account the policy of lending by international banks in Europe when formulating monetary policy, economic, and strategic objectives.

Suggested Citation

  • Bennaceur, Fatma & Bendob, Ali, 2013. "اختبار العلاقة بين يوريبور وأسعار الأسهم في البورصات الناشئة دراسة قياسية خلال الفترة 1999- 2010 [Testing the relationship between EURIBOR and share prices in emerging stock markets Econometric stu," MPRA Paper 76077, University Library of Munich, Germany, revised Feb 2014.
    • Handle: RePEc:pra:mprapa:76077
    as

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    File URL: https://mpra.ub.uni-muenchen.de/76077/1/MPRA_paper_76077.pdf
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    References listed on IDEAS

    as
    1. Vladimir Borgy & Valérie Mignon, 2009. "Taux d’intérêt et marchés boursiers : une analyse empirique de l’intégration financière internationale," Économie et Prévision, Programme National Persée, vol. 187(1), pages 105-121.
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    More about this item

    Keywords

    EURIBOR; share prices; emerging stock markets; the concept of Granger causality tests in 1988.;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • G1 - Financial Economics - - General Financial Markets
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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