| Summary: | 碩士 === 嶺東科技大學 === 財務金融系碩士班 === 104 === This research analyzed economic data from April 2004 to June 2015, such as the Russian RTS stock index, China CSI 300 Index, Mumbai sensex 30 stock index, Sao Paulo, Brazil Bovesp index, the US dollar index and the US Treasury bill rate - one month period (%) of the monthly, in order to investigate whether there is a long-term stable or mobile economic relationship between the BRIC countries and the United States. The sources were taken from the TEJ New Economic News Library and the researcher analyzed data month by month. Research Methods are co-integration, Granger causality test and self-vector regression model VAR.
Empirical results show that: Russia's RTS stock index return and Chinese CSI 300 index return had an unidirectional causality to Mumbai sensex 30 stock index return, with a significant effect;Russia's RTS stock index return and Chinese CSI 300 index return also had an unidirectional causality to Sao Paulo, Brazil Bovesp index return, with a significant effect ; Russia's RTS stock index return had a bidirectional causality to the US dollar index.
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