文章基本信息

标题：Interest Rate And Stock Market Returns In Namibia
本地全文：下载
作者：Joel Hinaunye Eita
期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2014
卷号：13
期号：4
页码：689-696
语种：English
出版社：The Clute Institute for Academic Research
摘要：This paper analyses the causal relationship between interest rate and stock market return in Namibia for the period 1996 to 2012. The analysis was done through cointegrated vector autoregression methods. The analysis reveals that there is a negative relationship between stock market returns and interest rates in Namibia. Causality test indicates that there is bi-directional causality between stock market returns and interest rate in Namibia. The results suggest that contractionary monetary policy through higher interest rate decreases stock market returns in Namibia.
关键词：Interest Rates;Stock Market Returns;Causality;Cointegration