Stock Market Equilibrium and Macroeconomic Fundamentals
Download or Read eBook Stock Market Equilibrium and Macroeconomic Fundamentals PDF written by Mr.Lamin Leigh and published by International Monetary Fund. This book was released on 1997-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle.
| Author | : Mr.Lamin Leigh |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1997-01-01 |
| ISBN-10 | : 9781451843224 |
| ISBN-13 | : 1451843224 |
| Rating | : 4/5 (24 Downloads) |
Book Synopsis Stock Market Equilibrium and Macroeconomic Fundamentals by : Mr.Lamin Leigh
Book excerpt: This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both “weakly” and “semi-strongly” efficient in asset-pricing terms but not “strongly” efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically related to the overall economy in Singapore and can thus serve as a leading indicator of its intertemporal behavior.
