Citation
Habibullah, Muzafar Shah
(1998)
The relationship between broad money and stock prices in Malaysia: an Error Correction model approach.
Jurnal Ekonomi Malaysia, 32.
pp. 51-73.
ISSN 0126-1962
Abstract
The purpose of this study is to investigate the empirical relationship between money supply and stock prices in the Kuala Lumpur Stock Exchange (KLSE), using monthly data that span from January 1984 to September 1992. Specifically, we test for market informational efficiency in KLSE by testing the causal relationships between money supply, M3 and stock prices using the cointegration technique. Results from our Error Correction models suggest that the informational efficiency markets hypothesis can be rejected for the KLSE.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | Faculty of Economics and Management |
| Publisher: | Penerbit Universiti Kebangsaan Malaysia |
| Keywords: | Money supply; Stock prices; Kuala Lumpur Stock Exchange (KLSE) |
| Depositing User: | Nabilah Mustapa |
| Date Deposited: | 01 Feb 2016 08:23 |
| Last Modified: | 01 Feb 2016 08:23 |
| URI: | http://psasir.upm.edu.my/id/eprint/17034 |
| Statistic Details: | View Download Statistic |
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