Stock market development and economic performance: The case of Mexico

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 st...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Castillo Ponce,Ramón A, Rodríguez Espinosa,María de Lourdes, Gaytan Alfaro,Edgar David
Lenguaje:	English
Publicado:	ILADES. Universidad Alberto Hurtado. 2015
Materias:	Economic growth financial markets efficient market hypothesis cointegration common cycles
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702015000100003
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:scielo:S0718-88702015000100003
record_format	dspace
spelling	oai:scielo:S0718-887020150001000032015-05-06Stock market development and economic performance: The case of MexicoCastillo Ponce,Ramón ARodríguez Espinosa,María de LourdesGaytan Alfaro,Edgar David Economic growth financial markets efficient market hypothesis cointegration common cycles 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.info:eu-repo/semantics/openAccessILADES. Universidad Alberto Hurtado.Revista de análisis económico v.30 n.1 20152015-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702015000100003en10.4067/S0718-88702015000100003
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Economic growth financial markets efficient market hypothesis cointegration common cycles
spellingShingle	Economic growth financial markets efficient market hypothesis cointegration common cycles Castillo Ponce,Ramón A Rodríguez Espinosa,María de Lourdes Gaytan Alfaro,Edgar David Stock market development and economic performance: The case of Mexico
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.
author	Castillo Ponce,Ramón A Rodríguez Espinosa,María de Lourdes Gaytan Alfaro,Edgar David
author_facet	Castillo Ponce,Ramón A Rodríguez Espinosa,María de Lourdes Gaytan Alfaro,Edgar David
author_sort	Castillo Ponce,Ramón A
title	Stock market development and economic performance: The case of Mexico
title_short	Stock market development and economic performance: The case of Mexico
title_full	Stock market development and economic performance: The case of Mexico
title_fullStr	Stock market development and economic performance: The case of Mexico
title_full_unstemmed	Stock market development and economic performance: The case of Mexico
title_sort	stock market development and economic performance: the case of mexico
publisher	ILADES. Universidad Alberto Hurtado.
publishDate	2015
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702015000100003
work_keys_str_mv	AT castilloponceramona stockmarketdevelopmentandeconomicperformancethecaseofmexico AT rodriguezespinosamariadelourdes stockmarketdevelopmentandeconomicperformancethecaseofmexico AT gaytanalfaroedgardavid stockmarketdevelopmentandeconomicperformancethecaseofmexico
_version_	1714206212691591168

Stock market development and economic performance: The case of Mexico

Ejemplares similares