Investment and Returns: Canadian Stock Market
This paper uses cointegration analysis and the VECM to investigate the role of stock markets in determining investment in Canada. The results reveal that the Canadian investment and stock market returns share long run equilibrium relationship. Further, the results suggest that the Canadian investmen...
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| Veröffentlicht in: | SCMS journal of Indian management 2012-07, Vol.9 (3), p.21 |
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| container_title | SCMS journal of Indian management |
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| creator | Anoruo, Emmanuel C Sawhney, Bansi L DiPietro, William R |
| description | This paper uses cointegration analysis and the VECM to investigate the role of stock markets in determining investment in Canada. The results reveal that the Canadian investment and stock market returns share long run equilibrium relationship. Further, the results suggest that the Canadian investment and stock market returns reinforce each other in the Granger-sense. In addition, the US stock market (proxied by the S&P 500) is found to play a significant role in determining investment in Canada. From a policy perspective, the Canadian authorities can foster investment by formulating and implementing policies that are conducive to stock markets, as these will in turn spur capital formation in the economy. |
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The results reveal that the Canadian investment and stock market returns share long run equilibrium relationship. Further, the results suggest that the Canadian investment and stock market returns reinforce each other in the Granger-sense. In addition, the US stock market (proxied by the S&P 500) is found to play a significant role in determining investment in Canada. 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| ispartof | SCMS journal of Indian management, 2012-07, Vol.9 (3), p.21 |
| issn | 0973-3167 |
| language | eng |
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| source | Alma/SFX Local Collection |
| subjects | Capital formation Cointegration analysis Consumption Dependency theory Economic growth Efficient markets Industrialized nations Investments Market shares Prices Profits Securities markets Stock exchanges Stock prices Studies Time series US exports Valuation Variables |
| title | Investment and Returns: Canadian Stock Market |
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