أثر بعض متغيرات الاقتصاد الكلي الأردني على أداء بورصة عمان : دراسة قياسية للفترة (1995-2017)‎

Abstract EN

This study aimed at determining the effect of some macroeconomic variables on the performance of the ASE (Aman Stock Exchange) during the period 1995-2017.

Macroeconomic variables included GDP, money supply in its broader meaning, deposit interest rate, CPI (Consumer Price Index) as an indicator of inflation, and the internal public debt of the government.

In addition, the performance index is the weighted average market price index, based on annual data for study variables.

The findings of the study showed that there is a weak significant positive effect of the total internal public debt of the central government on the stock market performance index.

It showed also a moderate and significant negative effect on deposit interest rates, while there was no effect for the other variables (GDP, money supply, consumer price index).

The study revealed a short-term single-causal relationship that ranges from the total internal debt of the central government and the deposit interest rate to the Amman Stock Exchange performance index (price index weighted by market value), and from the performance index to the money supply and CPI (inflation), Finally, the test showed a two-way causal relationship between the performance index and the deposit rate.

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