Home > Academic theses (ETDs) > Master’s theses > An investigation of the long-run relationship between capital market indices and macroeconomics variables in Zimbabwe
Original title:
An investigation of the long-run relationship between capital market indices and macroeconomics variables in Zimbabwe
Authors:
Mandigo, Naison Document type: Master’s theses
Year:
2017
Language:
eng Abstract:
[eng][cze] The hash economic conditions in Zimbabwe, marred with perpetual cash cri- sis, little to no foreign direct investments (FDI's), high unemployment rates, absence of the Central Bank roles and local currency has piqued my interests to study the long-run relationship of capital market indices and macroeco- nomic variables, in such conditions. The literature review analysed dierent research work that were done in health economics about the same subject but with dierent variable matrix structure and methods. Most of the stud- ies conrmed the short/ long-run relationship between capital market indices and macroeconomic variables. An ARDL method was employed on the subject matter, and interesting re- sults were obtained that are at variance with most of the existing empirical results in the literature. For example, most of the studies conrmed a signi- cant relationship between the exchange rate, interest rate and stock index but this research showed otherwise. Moreover, this work lled the existing gap in the literature on the relationship between the mining index and macroeco- nomics variables. Furthermore, it has been noted that consumer price index and exchange rates have a negative long-run relationship with the mining index. A way for further research of this nature in countries with the same or similar economic conditions as of Zimbabwe has been set in motion and needed for an abstract conclusions on the variations noted by this work.patn ekonomick situace Zimbabwe, asto zasaen krizemi, tm bez plivu pmch zahraninch investic (PZI), vysok mra nezamstnanosti, nefunkn role centrln banky a mstn mny ovlivnila zjem diplomanta studovat dlouhodob vztah index kapitlovho trhu a makroekonomickch ukazatel. Pehled literatury analyzuje vzkumn prce, zabvajc se zkoumanou problematikou. Vtina studi potvrzuje krtkodob / dlouhodob vztahy mezi indexy kapitlovch trh a makroekonomickmi promnnmi. Byla pouita metoda ARDL. Zskan vsledky jsou v nkterch aspektech rozdln od stvajcch empirickch studi na podobn tma. Napklad vtina studi potvrdila vznamn vztah mezi smnnm kurzem, rokovou sazbou a akciovm indexem, ale tato prce ukzala opak. Tato prce vypluje mezeru v literatue o vztahu mezi dlnm indexem a vybranmi makroekonomickmi ukazateli. Dle bylo potvrzeno, e index spotebitelskch cen a smnn kurzy maj negativn dlouhodob vztah s dlnm indexem. Cesta pro dal vzkum tto povahy v zemch se stejnmi nebo podobnmi ekonomickmi podmnkami jako v Zimbabwe je dal cestou pokraovn empirickho vzkumu provedenho v tto prci. Klov
Keywords:
akciový index; ARDL metoda; index spotebitelskch cen