Stock Prices, Inflation and Output : Evidence from India  

Oleh:

Chatrath, Arjun ; Song, Frank ; Ramchander, Sanjay

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Asian Economics vol. 7 no. 2 (1996), page 237-246.
Topik: STOCK PRICES; stock prices; inflation; output; evidence

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ50.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

A negative relationship between stock market returns and inflationary trends has been widely documented for developed economies in Europe and North America. This study provides similar evidence for India. The study investigates the relationship in light of Fama's (1981) explanation that centers around linkages between inflation and real activity, and between stock returns and real activity. The results provide only partial support for Fama's hypothesis. The relationship between real activity and inflation does not account for the negative relationship between real stock returns and the unexpected component of inflation. (JEL : F31,053)

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