Descriptive Analysis of Finnish Equity, Bond and Money Markets

52 Pages Posted: 12 May 2011  

Peter M. Nyberg

Aalto University

Mika Vaihekoski

University of Turku - Turku School of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: May 1, 2011

Abstract

This paper gathers together for the first time the longest available historical monthly return series for the Finnish equity, bond, and money markets as well as inflation. The series are investigated in order to analyze the statistical characteristics of the returns investors would have received in these markets. We also survey the literature concerning the history of these markets and review the main developments to facilitate future research on long-term development of the Finnish markets. Using a new total return stock market index for Finland we find, in an approach similar to Mehra and Prescott (2003), the equity premium for Finland 1913-2009 to be 10.14 percent.

Suggested Citation

Nyberg, Peter M. and Vaihekoski, Mika, Descriptive Analysis of Finnish Equity, Bond and Money Markets (May 1, 2011). International Conference of the French Finance Association (AFFI), May 11-13, 2011. Available at SSRN: https://ssrn.com/abstract=1836897 or http://dx.doi.org/10.2139/ssrn.1836897

Peter Mikael Nyberg (Contact Author)

Aalto University ( email )

P.O. Box 21210
Helsinki, 00101
Finland

Mika Vaihekoski

University of Turku - Turku School of Economics ( email )

Turku, 20014
Finland

HOME PAGE: http://users.utu.fi/moovai/

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