( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

Impact Factor* - 6.2311


**Need Help in Content editing, Data Analysis.

Research Gateway

Adv For Editing Content

   No of Download : 102    Submit Your Rating     Cite This   Download        Certificate

A STUDY ON COINTEGRATION BETWEEN MACRO ECONOMIC INDICATORS AND NSE STOCK MARKET PERFORMANCE IN INDIA

    2 Author(s):  DR. M.ANBUKARASI, V.SHANTHI

Vol -  10, Issue- 1 ,         Page(s) : 104 - 119  (2019 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Stock market acts as s barometer for the economy. Stock Market Performance and Economic Growth goes in hand in hand in case of Indian economy.While considering Indian economic growth , the stock market performance plays an essential role. The period of study ranges from 1990 to 2017. The tools used for the study is ADF unit root test , Johansen cointegration test and Vector error correction model. The study concludes that Gross domestic product, Crude oil price, Inflation and Real interest rate have the significant relationship with the NSE stock market for the study period

A. BOOKS
1. Bimal K Mohanty “Economic Development in India Issues and Challenges”  New Century Publications, New Delhi.
2. Anand Mittal  “Economic Reforms and Capital Market in India"Galgotia Publishing Company
3. Gupta, O.P., Amitabh Gupta, Chandrima Sikdar, Tapas Mahapatra “Indian Stock Market An Empirical Study” Anmol Publications Private Limited 
4. Narayan Sethi “Economic Reforms, International Capital Flows and Economic Growth”  Anmol Publication Private Limited , New Delhi
5. Bhattacharyya, D.N. “Indian Economic Development Contemporary Issues”  Regal Publications New Delhi
B. JOURNALS
1. Adefeso, H.A., T. Egbetunde,I. Alley (2013)“Stock market development and growth in Nigeria :a causal analysis” Arabian Journal of Business and Management Review (OMAN Chapter) Vol. 2, No. 6, pp. 78-94.
2. Okodua Henry, Ewetan O. Olabanji (2013) “Stock market performance and sustainable economic growth in Nigeria : a bounds testing co-integration approach” Journal of Sustainable Development ISSN 1913-9063 E-ISSN 1913-9071 Vol. 6, No.8, pp. 84-92.
3. Pradhan, R.P, Arvin, Mak B., Samadhan, Bele, Taneja, Shilpa (2013) “The impact of stock market development on inflation and economic growth of 16 Asian countries: a panel VAR approach” Applied Econometrics and International Development Vol. 13, No.1, pp. 204-220.
4. Jecheche Petros (2012) “The effect of the stock exchange on economic growth : a case of the Zimbabwe stock exchange” Research in Business and Economics Journal  pp. 1-17.
5. Samveg Patel (2012) “The effect of macroeconomic determinants on the performance of the Indian stock market” NMIMS Management Review Vol. XXII August 2012 ISSN : 0971-1023. 
6. Sanjeet Sharma (2011) “Stock market development and economic growth name and affiliation of the authors” Indian Journal of Management Science (IJMS) ISSN 2231-279X  Vol. 1, No. 1, pp. 53-61.
7. Sudharshan Reddy Paramati, Rakesh Gupta (2011) “An empirical analysis of stock market performance and economic growth: evidence from India” International Research Journal of Finance and Economics ISSN 1450-2887 No. 73, pp. 134-149.
8. Sharif Hossain, MD, Khnd. Md. Mostafa Kamal (2010) “Does stock market development cause economic growth? A time series analysis for Bangladesh economy” International Conference on Applied Economics- ICOAE 2010 pp. 299-305.
9. Abu Nurudeen (2009) “Does stock market development raise economic growth? Evidence from Nigeria” The Review of Finance and Banking ISSN 2067-2713
E-ISSN 2067-3825 Vol. 1, No. 1, pp. 15-26.
10. Sezgin Acikalin, Rafet Aktas, Seyfettin Unal (2008) “Relationship between Stock Markets and Macroeconomic Variables: An Empirical Analysis of the Istanbul Stock Exchange” Investment Management and Financial Innovations Vol. 5, No. 1, pp. 8-16.
11. Hong -Peng Tang, Muzafar Shah Habibullah, Chin -Hong Puah (2007) “Stock Market and Economic Growth in Selected Asian Countries” MPRA Paper.
12. Raman K Agarawalla (2005) “Share prices and macroeconomic variables in India: an approach to investigate the relationship between stock markets and economic growth” World Bank Economic Review pp. 1-20.

*Contents are provided by Authors of articles. Please contact us if you having any query.






Bank Details