Does the inflation rate affect the performance of the stock market? The case of Egypt
نویسندگان
چکیده
The intention of this paper is to examine the impact of the inflation rate on the performance of the Egyptian stock market. Particular attention is paid to the effects of the rate of inflation on various stock market performance variables, in terms of market activity and market liquidity. From the co-integration analysis through error correction mechanisms Ž . ECM , significant long-run and short-run relationships between the variables are found, implying that the inflation rate has had an impact upon the Egyptian stock market performance generally. 2001 Elsevier Science B.V. All rights reserved. JEL classifications: C12; C22; E44; G10; N25; O11 Ž .
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