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Effects of money volume (liquidity) and inflation rates on capital market development: A mathematical approach | ||
| International Journal of Nonlinear Analysis and Applications | ||
| مقاله 220، دوره 14، شماره 1، فروردین 2023، صفحه 2809-2820 اصل مقاله (523.86 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22075/ijnaa.2022.26485.3328 | ||
| نویسندگان | ||
| Rohollah Shahabinezhad1؛ Mohsen Zayandehroodi* 1؛ Reza Zeynalzadeh1؛ Seyed Abdolmajid Jalaee2 | ||
| 1Department of Economics, Kerman Branch, Islamic Azad University, Kerman, Iran | ||
| 2Department of Economics, Shahid Bahonar University of Kerman, Kerman, Iran | ||
| تاریخ دریافت: 13 دی 1400، تاریخ بازنگری: 25 بهمن 1400، تاریخ پذیرش: 18 اسفند 1400 | ||
| چکیده | ||
| The capital market is considered a subset of financial markets so the long-term financial resources required by manufacturing companies are provided from this part of the financial system. Therefore, the purpose of this study is to investigate the money supply (liquidity) and inflation rate as components of measuring macroeconomic variables on the development of the Iranian capital market with emphasis on the liberalization of justice stocks. Also, we have tried to study the relationship between macroeconomic variables (inflation and liquidity) with capital market development in the years 1384 to 1399 with quarterly data. The method used in this research is the co-integration method and error correction models and implicit reaction functions and analysis of variance. The hypotheses of this study have also been tested using the Distributed Interrupt Autoregression (ARDL) model. Research findings indicate that economic variables such as inflation, liquidity, exchange rates, etc. are stimulus and effective in changes in stock prices has been accepted as a theory. One of the characteristics of developed countries is the existence of efficient markets and financial institutions that, while playing an important role in the economy of these countries, are also the basis for the economic growth and development of these countries. Tehran Stock Exchange, as one of the main pillars of the capital market in the country, is able to accelerate the movement towards growth and development while equipping and pouring stagnant savings in the country and directing them towards production. | ||
| کلیدواژهها | ||
| Money volume (liquidity) and inflation rate؛ development of Iran's capital market؛ liberalization of justice stocks؛ self-regression model of distributional interruption | ||
| مراجع | ||
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