Is there a long-run relationship between stock prices and economic activity and are stock returns a leading indicator for economic growth? : Evidence from the Scandinavian countries: Sweden, Norway and Denmark
The purpose of this paper is twofold. First, the Johansen cointegration framework is applied to analyze the long-run relationship between stock prices and economic activity, using GDP as a proxy. In consideration of a long-run relationship a vector error correction model (VECM) is estimated to analy...
| Main Authors: | , |
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| Format: | Others |
| Language: | English |
| Published: |
Örebro universitet, Handelshögskolan vid Örebro Universitet
2021
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| Subjects: | |
| Online Access: | http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-89225 |