Please use this identifier to cite or link to this item:
https://hdl.handle.net/20.500.14279/33494
Τίτλος: | Linkages between financial and macroeconomic indicators in emerging markets and developing economies |
Συγγραφείς: | Biswas, Rita Liang, Zhongwen Loungani, Prakash Michaelides, Michael |
Major Field of Science: | Social Sciences |
Field Category: | Economics and Business |
Λέξεις-κλειδιά: | Finance-growth nexus;Macrofinance;MIDAS;EMDEs;Financial indicators;Predicting macroeconomic indicators |
Ημερομηνία Έκδοσης: | Σεπ-2024 |
Πηγή: | Global Finance Journal, 2024, vol. 64 |
Volume: | 62 |
Issue: | 101007 |
Περιοδικό: | Global Finance Journal |
Περίληψη: | This paper provides empirical evidence on the finance-growth nexus, making key contributions by focusing on previously understudied Emerging Markets and Developing Economies (EMDEs) and employing mixed-frequency data. Utilizing panel forecasting models for 50 countries from 1990 to 2019, we examine the empirical link between macroeconomic indicators (e.g., aggregate production) and financial indicators (e.g., stock market indexes). Our results support the notion that financial indicators can indeed serve as robust predictors of macroeconomic indicators. Further, the use of mixed data sampling (MIDAS) models enhances the results, confirming the presence of valuable predictive information in higher-frequency data, even for lower-income countries. These findings bear particular significance for policymakers and investors, given the persistent challenge of accessing timely and reliable data on real indicators in EMDEs. |
URI: | https://hdl.handle.net/20.500.14279/33494 |
ISSN: | 10440283 |
DOI: | 10.1016/j.gfj.2024.101007 |
Type: | Article |
Affiliation: | Cyprus University of Technology Johns Hopkins University State University of New York at Albany |
Publication Type: | Peer Reviewed |
Appears in Collections: | Άρθρα/Articles |
Files in This Item:
File | Size | Format | |
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Biswas, Liang, Loungani, and Michaelides (2024).pdf | 1.65 MB | Adobe PDF | Δείτε/ Ανοίξτε |
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