BibTex RIS Cite

The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications

Year 2011, Volume: 1 Issue: 1, 12 - 18, 01.03.2011

Abstract

This paper examines the effects of selected macroeconomic variables on the stock market index in South Africa. The exponential GARCH (Nelson, 1991) model is applied. It finds that South Africa’s stock market index is positively influenced by the growth rate of real GDP, the ratio of the money supply to GDP and the U.S. stock market index and negatively affected by the ratio of the government deficit to GDP, the domestic real interest rate, the nominal effective exchange rate, the domestic inflation rate, and the U.S. government bond yield. Therefore, to maintain a robust stock market, the authorities are expected to pursue economic growth, fiscal prudence, a higher ratio of the money supply to GDP, a lower real interest rate, depreciation of the rand, and/or a lower inflation rate.

Year 2011, Volume: 1 Issue: 1, 12 - 18, 01.03.2011

Abstract

There are 0 citations in total.

Details

Other ID JA98DC89CG
Journal Section Research Article
Authors

Yu Hsing This is me

Publication Date March 1, 2011
Published in Issue Year 2011 Volume: 1 Issue: 1

Cite

APA Hsing, Y. (2011). The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications. International Journal of Economics and Financial Issues, 1(1), 12-18.
AMA Hsing Y. The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications. IJEFI. March 2011;1(1):12-18.
Chicago Hsing, Yu. “The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications”. International Journal of Economics and Financial Issues 1, no. 1 (March 2011): 12-18.
EndNote Hsing Y (March 1, 2011) The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications. International Journal of Economics and Financial Issues 1 1 12–18.
IEEE Y. Hsing, “The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications”, IJEFI, vol. 1, no. 1, pp. 12–18, 2011.
ISNAD Hsing, Yu. “The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications”. International Journal of Economics and Financial Issues 1/1 (March 2011), 12-18.
JAMA Hsing Y. The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications. IJEFI. 2011;1:12–18.
MLA Hsing, Yu. “The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications”. International Journal of Economics and Financial Issues, vol. 1, no. 1, 2011, pp. 12-18.
Vancouver Hsing Y. The Stock Market and Macroeconomic Variables in a BRICS Country and Policy Implications. IJEFI. 2011;1(1):12-8.