Abstract
This paper investigates the macroeconomic determinants of stock market prices in Namibia. The investigation was conducted using a VECM econometric methodology and revealed that Namibian stock market prices are chiefly determined by economic activity, interest rates, inflation, money supply and exchange rates. An increase in economic activity and the money supply increases stock market prices, while increases in inflation and interest rates decrease stock prices. The results suggest that equities are not a hedge against inflation in Namibia, and contractionary monetary policy generally depresses stock prices. Increasing economic activity promotes stock market price development.
| Original language | English |
|---|---|
| Pages (from-to) | 871-884 |
| Number of pages | 14 |
| Journal | Journal of Applied Business Research |
| Volume | 28 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 2012 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
-
SDG 17 Partnerships for the Goals
Keywords
- Macroeconomic determinants of stock market prices
- Namibian stock market
- Stock markets in emerging economies
ASJC Scopus subject areas
- Business and International Management
Fingerprint
Dive into the research topics of 'Modelling macroeconomic determinants of stock market prices: Evidence from Namibia'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver