Performances of Stock Market and Economic Growth in Iran

  • سال انتشار: 1395
  • محل انتشار: مجله علمی حسابداری و تحقیقات اقتصاد، دوره: 6، شماره: 2
  • کد COI اختصاصی: JR_AJAER-6-2_003
  • زبان مقاله: انگلیسی
  • تعداد مشاهده: 520
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نویسندگان

Zahra Sadeghi

Department of Accounting, Science and Research Branch, Islamic Azad University, Hormozgan, Iran

Parviz Saeidi

Department of Accounting and Management, Ali Abad Katoul Branch, Islamic Azad University, Ali Abad Katoul,Iran

چکیده

The main purpose is a causal link between stock market performance and economic growth in the firstquarter 1993 to last quarter 2015 timeframe (seasonal data). The Subject the research is the empiricalanalysis using Granger Causality Test and financial variables used include stock market performance(General Price Index - Return of cash - cash price index yield) and economic variables used have beenGrowth of gross domestic product - the consumer price index. The main question of the research hasbeen the answer to this question. Performance of the stock market cause to economic growth or theoutcome of economic activity has grown. Although many empirical studies on the relationship betweenfinancial markets and the economy has been carried out. But most of them are considered the results ofbanks and credit markets on economic growth. No separate research and deep study of the precise causalrelationship between stock market performance of and economic growth in Iran has been performed.Results indicate that the performance of index (total price index, yields, and yield cash price index) issignificantly related to stock market and economic growth in Iran. It is therefore concluded that Iran sstock exchange stock price changes reflect economic conditions and therefore can be used to predict thefuture course of economic growth.

کلیدواژه ها

General Price Index, Stock Index Yields, Yields Stock Price Index, Growth Index

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