Capital market and the transmission channel of the monetary policy: empirical evidence on the money view
The aim of this study is to find the relationship between the monetary transmission channels with the stock prices. The study utilizes the monthly data from 1990 to 2001 obtained from the Kuala Lumpur Stock Exchange Report and the monthly bulletin of the Central Bank of Malaysia. The result revealed...
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| Format: | Article |
| Language: | English English |
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The International Business & Economics Research Journal (IBER)
2010
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| Online Access: | https://eprints.ums.edu.my/id/eprint/29282/1/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy.pdf https://eprints.ums.edu.my/id/eprint/29282/2/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy1.pdf |
| _version_ | 1825714237608034304 |
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| author | Caroline Geetha |
| author_facet | Caroline Geetha |
| author_sort | Caroline Geetha |
| collection | UMS |
| description | The aim of this study is to find the relationship between the monetary transmission channels with the stock prices. The study utilizes the monthly data from 1990 to 2001 obtained from the Kuala Lumpur Stock Exchange Report and the monthly bulletin of the Central Bank of Malaysia. The result revealed that all the variables are non-stationary at the level form and stationery at the first difference. The Johansen Cointegration revealed that a long-run relationship does exist for the unanticipated changes in money supply, unlike the anticipated changes in money supply that only established a short-run relationship with stock prices. This is due to the level of monetization that is unable to eliminate the excess in the money market in the long run. |
| first_indexed | 2024-03-06T03:08:49Z |
| format | Article |
| id | ums.eprints-29282 |
| institution | Universiti Malaysia Sabah |
| language | English English |
| last_indexed | 2024-03-06T03:08:49Z |
| publishDate | 2010 |
| publisher | The International Business & Economics Research Journal (IBER) |
| record_format | dspace |
| spelling | ums.eprints-292822021-09-24T07:34:18Z https://eprints.ums.edu.my/id/eprint/29282/ Capital market and the transmission channel of the monetary policy: empirical evidence on the money view Caroline Geetha HG1-9999 Finance The aim of this study is to find the relationship between the monetary transmission channels with the stock prices. The study utilizes the monthly data from 1990 to 2001 obtained from the Kuala Lumpur Stock Exchange Report and the monthly bulletin of the Central Bank of Malaysia. The result revealed that all the variables are non-stationary at the level form and stationery at the first difference. The Johansen Cointegration revealed that a long-run relationship does exist for the unanticipated changes in money supply, unlike the anticipated changes in money supply that only established a short-run relationship with stock prices. This is due to the level of monetization that is unable to eliminate the excess in the money market in the long run. The International Business & Economics Research Journal (IBER) 2010 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/29282/1/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy.pdf text en https://eprints.ums.edu.my/id/eprint/29282/2/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy1.pdf Caroline Geetha (2010) Capital market and the transmission channel of the monetary policy: empirical evidence on the money view. International Business and Economics Research Journal, 9. pp. 1-20. ISSN 1535-0754 https://clutejournals.com/index.php/IBER/article/view/621 https://doi.org/10.19030/iber.v9i9.621 https://doi.org/10.19030/iber.v9i9.621 |
| spellingShingle | HG1-9999 Finance Caroline Geetha Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title | Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title_full | Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title_fullStr | Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title_full_unstemmed | Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title_short | Capital market and the transmission channel of the monetary policy: empirical evidence on the money view |
| title_sort | capital market and the transmission channel of the monetary policy empirical evidence on the money view |
| topic | HG1-9999 Finance |
| url | https://eprints.ums.edu.my/id/eprint/29282/1/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy.pdf https://eprints.ums.edu.my/id/eprint/29282/2/Capital%20market%20and%20the%20transmission%20channel%20of%20the%20monetary%20policy1.pdf |
| work_keys_str_mv | AT carolinegeetha capitalmarketandthetransmissionchannelofthemonetarypolicyempiricalevidenceonthemoneyview |