Measuring the Impact of Some Macroeconomic Variables on the Stock Price Index in the Iraq Stock Exchange for the period (2006-2015) | Zendy

Khalil Gh. Hassan | Zendy; Wafaa Sabah | Zendy

Open Access

Measuring the Impact of Some Macroeconomic Variables on the Stock Price Index in the Iraq Stock Exchange for the period (2006-2015)

Author(s) -

Khalil Gh. Hassan,

Wafaa Sabah

Publication year - 2019

Publication title -

academic journal of nawroz university

Language(s) - English

Resource type - Journals

ISSN - 2520-789X

DOI - 10.25007/ajnu.v8n4a441

Subject(s) - economics , stock exchange , capitalization weighted index , stock (firearms) , exchange rate , stock market index , econometrics , money supply , index (typography) , cost price , stock market bubble , monetary economics , stock price , financial economics , interest rate , stock market , finance , series (stratigraphy) , mechanical engineering , paleontology , horse , world wide web , computer science , engineering , biology

This study aims at measuring the impact of some macroeconomic variables on stock prices index in the Iraqi Stock Exchange (ISX) for the monthly data from January 2006 to December 2015 based on (121) observations using the ARDL model. Results indicated that the stock price index of Iraq Stock Exchange (ISX) and macroeconomic variables are co-integrated and a long-run relationship exists between them. The long-run coefficients suggested that the consumer price index (CPI) and money supply (M2) had a negative effect while the Interest-Rate-Current Account (Over Draft) (DR) had a positive effect on the stock prices index. However, the variable exchange rate (EX) did not show significant effect on the stock prices index

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