INVESTIGATING THE RELATIONSHIP BETWEEN STOCK PRICE INDEX FLUCTUATIONS AND IRAN'S ECONOMIC GROWTH (1992-2017)

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ALIGHOLI MANSOUREH; HOSSEINI S.MAHDI

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Journal: Financial Economics Year:2018 | Volume:11 | Issue:41 Page(s): 201-224

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Title

INVESTIGATING THE RELATIONSHIP BETWEEN STOCK PRICE INDEX FLUCTUATIONS AND IRAN'S ECONOMIC GROWTH (1992-2017)

Author(s)

ALIGHOLI MANSOUREH | HOSSEINI S.MAHDI | Issue Writer Certificate

Keywords

ECONOMIC GROWTHQ2

STOCK EXCHANGEQ2

STOCK PRICE INDEXQ2

GRANGER CAUSALITYQ1

VECTOR SELF-REGRESSION MODELQ1

Abstract

Achieving ECONOMIC GROWTH and development is one of the most important concerns of all societies and governments. In particular, in Third World countries, this demand is much higher than developed countries. Achieving ECONOMIC GROWTH and development requires developing some specific mechanisms in the social, cultural and economic spheres. Strong financial markets are among these specific mechanisms in the economic arena. To have powerful financial markets requires strong financial institutions. In this research, we try to study most financial institutions in Iran, especially the stock market, and the impact that these institutions have on financing the real sector of the economy on ECONOMIC GROWTH and development. In this research, variables data was extracted from databases for the years 1371-96 and the Dickey Fuller test was used to test the hypotheses for the reliability of variables, GRANGER CAUSALITY test, and VECTOR SELF-REGRESSION MODEL (VAR). The results showed that the STOCK PRICE INDEX had positive and significant effects on ECONOMIC GROWTH during the studied period. As the index of stock prices increased in the years under study, ECONOMIC GROWTH has increased (albeit negligible). Also, the results of this study showed that the effect of liquidity variables, the degree of economic freedom on positive ECONOMIC GROWTH and the effect of exchange rate variables and inflation rate on negative ECONOMIC GROWTH.

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APA: Copy

ALIGHOLI, MANSOUREH, & HOSSEINI, S.MAHDI. (2018). INVESTIGATING THE RELATIONSHIP BETWEEN STOCK PRICE INDEX FLUCTUATIONS AND IRAN'S ECONOMIC GROWTH (1992-2017). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 11(41 ), 201-224. SID. https://sid.ir/paper/229156/en

Vancouver: Copy

ALIGHOLI MANSOUREH, HOSSEINI S.MAHDI. INVESTIGATING THE RELATIONSHIP BETWEEN STOCK PRICE INDEX FLUCTUATIONS AND IRAN'S ECONOMIC GROWTH (1992-2017). JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2018;11(41 ):201-224. Available from: https://sid.ir/paper/229156/en

IEEE: Copy

MANSOUREH ALIGHOLI, and S.MAHDI HOSSEINI, “INVESTIGATING THE RELATIONSHIP BETWEEN STOCK PRICE INDEX FLUCTUATIONS AND IRAN'S ECONOMIC GROWTH (1992-2017),” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 11, no. 41 , pp. 201–224, 2018, [Online]. Available: https://sid.ir/paper/229156/en

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