文章基本信息

标题：The Effects of Macro-economic Indicators on Stock Returns: Evidence from Kuwait Stock Market
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作者：Hamdan Ahmed Ali Al-Shami ; Hamdan Ahmed Ali Al-Shami ; Yusnidah Ibrahim 等
期刊名称：American Journal of Economics
印刷版ISSN：2166-4951
电子版ISSN：2166-496X
出版年度：2013
卷号：3
期号：5C
页码：57-66
DOI：10.5923/c.economics.201301.11
语种：English
出版社：Scientific & Academic Publishing Co.
摘要：The purpose of this study is to examine the impact of macroeconomic indicators (inflation, interest rate, money supply, oil prices, and unemployment rate) on Kuwait stock market. Basic indicators of Kuwait economy were analyzed using VAR model for the period from January 2001 to Dec 2010 on a monthly basis. A positive association was found between inflation, money supply and oil price in 1-month time and stock return while there is a negative relationship between interest rate in 1-month time and stock return in Kuwait stock market. There is a positive relationship between interest rate in 2-month time and stock return in Kuwait stock market and finally, there is a negative relationship between inflation, money supply and oil prices in 2-month time and stock return in Kuwait stock market.
关键词：Kuwait Stock Market; Arbitrage Pricing Theory; VAR Model