Effects of Macroeconomic Variables on the Stock Market: The Case of the Czech Republic
Applying the GARCH model, this paper finds that the Czech stock market index is positively associated with real GDP and the German and US stock market indexes, is negatively influenced by the ratio of government borrowing to GDP, the domestic real interest rate, the CZK/USD exchange rate, the expect...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2011-07-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/612.pdf
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