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129619

The Impact of Macroeconomic Variables on Financial Market Performance in Egypt: An Empirical Analysis for the period (1980-2018)

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Last updated: 22 Jan 2023

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Abstract

The impact of macroeconomic variables on the financial market performance has been a hot topic for decades. Thus, this study focused on investigating the effect of oil price on the financial market performance and used a Vector Error Correction Model estimation technique on Egypt data from 1980 to 2018.  the results revealed the long-run causality between the independent variables towards the dependent variable. Still, in the short-run, only Inflation and interest rates have causality effects on financial market performance. Also, the exchange rate and oil price do not have causality running to financial market performance.   The results also emphasized that the short-run and long-run causality effects should be considered guidelines for policymakers to avoid misleading macroeconomic strategies in future strategic planning.  The speed of adjustment reported from estimating the VECM is (-9.5%).  Also, the model was found stable from using both the CUSUM and CUSUMQ statistics

DOI

10.21608/jsec.2020.129619

Keywords

Oil Price, VECM, Financial Market Performance, Economic growth

Authors

First Name

Saif

Last Name

Sallam Alhakimi

MiddleName

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Affiliation

Professor of International Economics University of Bisha, Bisha, K.S.A. University of Hodeidah, Yemen

Email

saifali@ub.edu.sa

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Orcid

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First Name

Talat

Last Name

Rashad Shama

MiddleName

-

Affiliation

Assistant Professor of Finance University of Bisa, Bisha, K.S.A Al Azhar University, Egypt

Email

tshma@ub.edu.sa

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-

Orcid

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Volume

50

Article Issue

4

Related Issue

16951

Issue Date

2020-12-01

Receive Date

2020-11-11

Publish Date

2020-12-14

Page Start

319

Page End

358

Print ISSN

2636-2562

Article File

JSEC_Volume 50_Issue 4_Pages 319-358.pdf

PDF . 1.3MB

Link

https://jsec.journals.ekb.eg/article_129619.html

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https://jsec.journals.ekb.eg/service?article_code=129619

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7

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المقالة الأصلية

Type Code

914

Publication Type

Journal

Publication Title

المجلة العلمية للإقتصاد و التجارة

Publication Link

https://jsec.journals.ekb.eg/

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Article

Created At

22 Jan 2023