Causal Relations Among Stock Prices and Macroeconomic Variables in the Small, Open Economy of Jordan

14 Pages Posted: 6 Dec 2002

See all articles by Aktham Issa Maghyereh

Aktham Issa Maghyereh

Hashemite University - Department of Finance and Banking

Date Written: 2002

Abstract

The purpose of this study is to investigate the long run relationship between the Jordanian stock prices and selected macroeconomic variables by using Johansen's methodology in cointegration analysis and monthly time series data over for the period from January 1987 to December 2000.

This study finds that macroeconomic variables are reflected in stock prices in the Jordanian capital market.

Keywords: Amman Stock Market, cointegration, vector error correction, macroeconomic variables, stock market prices

JEL Classification: G1

Suggested Citation

Maghyereh, Aktham Issa, Causal Relations Among Stock Prices and Macroeconomic Variables in the Small, Open Economy of Jordan (2002). Available at SSRN: https://ssrn.com/abstract=317539 or http://dx.doi.org/10.2139/ssrn.317539

Aktham Issa Maghyereh (Contact Author)

Hashemite University - Department of Finance and Banking ( email )

Zarqa 13115
Jordan
+962 (5) 383 6 600 (Phone)
+962 (5) 383 6 613 (Fax)

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