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    Empirical evidence on nexus between financial markets in India: An ARDL bounds test approach

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    Date
    2017
    2017
    Author
    Mishra, P. K.
    Verma, J.K.
    Mishra, S.K.
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    Abstract
    In the aftermath of global financial crisis, the study of the relationship between financial markets has become a moot point in the finance literature. In the literature, there is no much theoretical and empirical consensus on the interrelationship between the indicators of financial markets. Thus, it is imperative to conduct an empirical investigation of the causal relationship between financial markets in an emerging market economy like India. The application of ARDL bounds test provides the evidence of the existence of the long-run equilibrium relationship between the money and capital markets, and also between foreign exchange and money markets in India. However, no causal relationship runs from foreign exchange and capital markets to the money market in the long-run. This finding is very important in the context of inflation and interest rate structure in India. ? Serials Publications Pvt. Ltd.
    Journal
    International Journal of Applied Business and Economic Research
    URI
    http://210.212.34.21/handle/32116/487
    URL
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    • Economic Studies-Research Publications [92]

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    Initiatives by University Library 
    Central University of Punjab