Journal of Economic Studies and Financial Research

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Manan Jain
Abstract:
In this study, an attempt has been made to examine whether the theory of sector rotation has been empirically valid in the Indian equity market, during the period April, 2000 to March, 2020. The time period has been divided into many sub-periods according to the real GDP growth rate and the annualized returns of eleven stock market indices have been analyzed in different periods. Going forward, leading macroeconomic indicators, which coincide with overall economy, have been taken and their association with stock market indices have been analyzed through statistical measures to assess any possible forecasting. In the first part of the study, cyclical and non-cyclical sectors have been found to beat the benchmark index during periods of growth and stagnancy, respectively, but no particular ordinality was observed. Amongst the leading economic variables, M3 Money Supply was found to have high degree of association with some indices, namely Sensex, Healthcare, CDGS, Consumer Durables and IT, but no linear relation was observed.
R.M.G.S Jayarathna
Published: 24 November 2021
Abstract:
The study seeks to measure the influence of world oil prices on inflation and GDP in Sri Lanka using monthly data from 2000M01 to 2020M12. All variables are integrated in the same order and satisfy the precondition of the Johansen cointegration test, according to the Augmented Dickey Fuller unit root, Philips and Perron unit root, and Correlogram tests. There is a long-run association between oil price, inflation, and GDP, according to the Johansen cointegration test. Then, using Vector Error Correction Model (VECM), it was discovered that while there is a long-run causal relationship between oil prices and inflation, there is no short-run causal association. There is also a long-run causality from oil prices to GDP, but no short-run connection. Inflation granger causes GPD, and oil price granger causes inflation rate, according to the Granger causality test. The results of a variance decomposition analysis revealed that oil price shocks have little impact on inflation fluctuations, both in the short and long run. In the short run, an increase in oil prices will not have much of an impact on GDP fluctuations, but in the long run, an increase in oil prices will have a significant impact on GDP fluctuations.
Nalla Bala Kalyan
Abstract:
Indian monetary industry has actually seen the turnout of creative monetary models like portions and minimal expenditure banks. RBI's new measures may go far in helping the modifying of the local monetary industry. The automated portions system in India has fostered the most among 25 countries with India's Immediate Payment Service (IMPS) being the singular structure at level 5 in the Faster Payments Innovation Index (FPII). With the end goal of article decisions, the key examination is extremely basic. It gives information into the monetary show of a business attempt. Worth examination is the exhibit of making an ex-bet appraisal of different endeavor streets, especially for the worth offers. The inspiration driving the examination is to survey the endeavor worth of the worth offers and find the appropriate arranging of interest in such offers. The primary goal of the current examination is to analyze the efficiency position of the monetary region by taking relatively few model financial associations. The helper target is to make a close to examination among the basics of the model financial associations in India. There are two fundamental kinds of stock assessment: significant examination and particular examination.
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