Since 2014
Stock Market Development and Economic Performance: The Case of Mexico
Economic Analysis Review
View Archive Info| Field | Value | |
| Title |
Stock Market Development and Economic Performance: The Case of Mexico
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| Creator |
Castillo-Ponce, Ramon A.
Rodriguez-Espinosa, Maria De Lourdes Gaytan-Alfaro, Edgar David |
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| Subject |
Economic growth, financial markets, efficient market hypothesis, cointegration, common cycles.
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| Description |
We evaluate the association between stock market development and the aggregate economy for the long-run and the short-run. We perform cointegration and common cycle tests considering various stock market indicators, real GDP and industrial production for the Mexican economy. While controlling for structural breaks in the series, we identify the existence of common trends but not common cycles. Specifically, stock market activity and real variables exhibit a positive and significant relationship in the long-run; however, they appear to have different responses to transitory shocks. These results confirm that stock market development is conducive to economic growth.
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| Publisher |
Universidad Alberto Hurtado - Facultad de Economía y Negocios
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| Contributor |
—
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| Date |
2015-04-25
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://www.rae-ear.org/index.php/rae/article/view/436
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| Source |
Revista de Análisis Económico - Economic Analysis Review; Vol 29, No 1 (2015); 41-56
Revista de Análisis Económico – Economic Analysis Review; Vol 29, No 1 (2015); 41-56 0718-8870 0716-5927 |
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| Language |
eng
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| Relation |
http://www.rae-ear.org/index.php/rae/article/view/436/567
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| Rights |
Copyright (c) 2015 Revista de Análisis Económico – Economic Analysis Review
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