Relationship of Stock Price and Monetary Variables of Asian Small Open Emerging Economy: Evidence from Thailand
Nararuk Boonyanam · 2014 · International Journal of Financial Research
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Abstract
Monetary variables contain information to forecast stock price is still controversial. This paper examines the relationship between stock price and monetary variables in Thailand which is an Asian small open emerging economy. Monetary variables are consumer price index, nominal bilateral exchange rate in term of bath per US dollar, narrow money, and 14 days repurchased rate, employing a multivariate cointegration, VECM, variance decomposition and impulse response analysis covering the period of January 1999 to December 2012 with 168 observations. The study found a long run relationship between
Abstract by Nararuk Boonyanam, International Journal of Financial Research (2014) — licensed CC BY 4.0.
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Metadata source: OpenAlex · DOI 10.5430/ijfr.v5n1p52