Macroeconomic influences on the stock market
G Hondroyiannis, E Papapetrou - Journal of economics and finance, 2001 - Springer
Journal of economics and finance, 2001•Springer
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 …
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 …
Abstract
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.
Springer
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