MARC details
| 000 -LEADER |
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| fixed length control field |
02183pab a2200217 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
140923b0 xxu||||| |||| 00| 0 eng d |
| 040 ## - CATALOGING SOURCE |
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| Transcribing agency |
Welingkar Institute of Management Development & Research, Mumbai |
| Original cataloging agency |
Welingkar Institute of Management Development & Research, Mumbai |
| 041 ## - LANGUAGE CODE |
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| Language code of text/sound track or separate title |
ENG |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Classification number |
|
| Item number |
Gun/Pow |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Gunasekarage Abeyratna |
| 245 ## - TITLE STATEMENT |
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| Title |
Macroeconomic Influence on the Stock Market : Evidence from an Emerging Market in South Asia |
| 250 ## - EDITION STATEMENT |
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| Edition statement |
3 |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc. |
|
| Name of publisher, distributor, etc. |
Sep - Dec 2004 |
| Date of publication, distribution, etc. |
0 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
285-304 Pp. |
| 490 ## - SERIES STATEMENT |
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| Volume/sequential designation |
3 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
This study examines the influence of macroeconomics variables on stock market equity values in Sri Lanka. We use the Colombo all share price index to represent the stock market and (a) the money supply, (b) the treasury bill rate (as a measure of interest rates), (c) the consumer price index (as a measure if inflation) , and (d) the exchange rate as macroeconomic variables. We analyse monthly data for the above variables for the 17 years period from January 1985 to December 2001 employing a battery of tests, which include unit roots, cointegration, vector error correction models (VECM). Impulse response functions (IRFs) and variance decompositions (VDCs). These tests examine both long-run and short-run relationships between the stock market index and the economic variables. The VECM analyses provide some support for the argument that the lagged values of macroeconomics variables such as the consumer price index, the money supply and the treasury bill rate have a significant influence on the stock market. The treasury bill rate demonstrates the strongest influence on price changes compared to other variables. However, the share price index does not have any influence on macroeconomic variables except for the treasury bill rate. Both VDC and IRF analyse revealed that shocks to economic variables explained only a minority of the forecast variance error of the market index; these effects did not persist for very long. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Macroeconomic Variables, Stock Market, |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
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| Personal name |
Power David M |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
|---|
| Uniform Resource Identifier |
<a href="http://192.168.6.13/libsuite/mm_files/Articles/AR6909.pdf">http://192.168.6.13/libsuite/mm_files/Articles/AR6909.pdf</a> |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| a |
19641 |
