Causal Relationship among Stock Markets and Economic Growth in Latin America
|Author(s)||by Elena Moreno-García, Arturo García-Santillán, Sergio Hernández-Mejía, Jorge Muñoz-Buendía, Daniel Basurto-Romero|
|Keywords||Economic growth, stock markets, Latin American countries|
|Open Access||Access PDF Open in New Tab|
The aim of this research is to analyze the causal relationship among stock market and economic growth in Latin America, in the case of Mexico, Brazil and Chile. The Granger causality test was utilized in order to analyze the relationship among growth rate and the stock market index of each country, as a reference of economic growth respectively. Consequently a VAR model for each country is designed. The results of research allow to identify unilateral causation in all three cases examined, as well allows to identify that there is causality of stock market toward economic growth.
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