Macro-Economic Influence on Equity Market - Indian Evidence

Obaidullah, M and Kumar, Ganesh (1993) Macro-Economic Influence on Equity Market - Indian Evidence. TAPMI, Manipal.

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Abstract

This paper documents the impact of macro economic forces on stock prices. The empirical evidence available mainly relates to the developed stock markets and the ones in developing countries which are in transition. The lower level of efficiency of such markets and the frequent policy changes underscore the need for an alternative model. This paper proposes a model for one such developing market viz. the Indian market and observes that money supply, monsoon and industrial policy explain about fifty per cent of movements in the aggregate market.

Item Type:	TAPMI Working Papers
Uncontrolled Keywords:	MACRO ECONOMICS: ECONOMICS
Subjects:	Economics Economics > Macroeconomics
Divisions:	General Management and Enterpreneurship
Depositing User:	Ms. Vanitha K
Date Deposited:	17 Nov 2018 11:24
Last Modified:	09 Jan 2019 08:47
URI:	http://tapmi.informaticsglobal.com/id/eprint/404

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