Stock Market & the Economy: Evidence from Philippines

The Journal of Applied Business and Economics, 20(2), 48-58. Retrieved from http://ezproxy.auckland.ac.nz/login?url=https://www.proquest.com/scholarly-journals/stock-market-amp-economy-evidence-philippines/docview/2108806598/se-2?accountid=8424

The University of Auckland Business School Research Paper Series

Posted: 24 Feb 2022

See all articles by Dulani Jayasuriya

Dulani Jayasuriya

University of Auckland Business School

Date Written: 2018

Abstract

This study reviews prior literature on the relationship between the stock market and the economy and conducts a simple analysis on the same empirically for Philippines. The study utilizes quarterly data from 2003 to 2015. Results show that increases in past quarter real GDP growth causes a 0.56 increase in the present quarter real GDP growth. In addition, increases in past quarter PSI index returns cause a 0.04 increase in real GDP growth in the present quarter. Moreover, the study identifies an inflation-GDP growth puzzle for Philippines. Results support the permanent income and the financial accelerator views. Full paper available at http://ezproxy.auckland.ac.nz/login?url=https://www.proquest.com/scholarly-journals/stock-market-amp-economy-evidence-philippines/docview/2108806598/se-2?accountid=8424

Suggested Citation

Jayasuriya, Dulani, Stock Market & the Economy: Evidence from Philippines (2018). The Journal of Applied Business and Economics, 20(2), 48-58. Retrieved from http://ezproxy.auckland.ac.nz/login?url=https://www.proquest.com/scholarly-journals/stock-market-amp-economy-evidence-philippines/docview/2108806598/se-2?accountid=8424, The University of Auckland Business School Research Paper Series, Available at SSRN: https://ssrn.com/abstract=4041602

Dulani Jayasuriya (Contact Author)

University of Auckland Business School ( email )

12 Grafton Rd
Private Bag 92019
Auckland, 1010
New Zealand

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