dc.creatorCastillo-Ponce, Ramón
dc.creatorRodriguez-Espinosa, Maria De Lourdes
dc.creatorGaytan-Alfaro, Edgar David
dc.date2015-07-01T00:35:09Z
dc.date2015-07-01T00:35:09Z
dc.date2015
dc.date.accessioned2018-04-19T21:16:08Z
dc.date.available2018-04-19T21:16:08Z
dc.identifierRevista de Análisis Económico 30(1): 2015, p. 41-56
dc.identifierhttp://repositorio.uahurtado.cl/handle/11242/6763
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/1373793
dc.descriptionWe evaluate the association between stock market development and the aggregate economy for the long-run and the short-run. We perform cointegration and common cycle tests considering various stock market indicators, real GDP and industrial production for the Mexican economy. While controlling for structural breaks in the series, we identify the existence of common trends but not common cycles. Specifically, stock market activity and real variables exhibit a positive and significant relationship in the long-run; however, they appear to have different responses to transitory shocks. These results confirm that stock market development is conducive to economic growth.
dc.languageen_US
dc.publisherUniversidad Alberto Hurtado. Facultad de Economía y Negocios
dc.subjectEconomic growth
dc.subjectFinancial markets
dc.subjectEfficient market hypothesis
dc.subjectCointegration
dc.subjectCommon cycles
dc.titleStock market development and economic performance: the case of Mexico
dc.typeArtículos de revistas


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