Is money neutral in stock markets? the case of Malaysia.
The objective of this study is to examine whether the notion of monetary neutrality holds in Malaysian stock market. Our findings indicate that there is considerable evidence against the long-run neutrality (LRN) of money in Malaysian stock market. The important implication is that the stock market...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English English |
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Economics Bulletin
2010
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| Online Access: | http://psasir.upm.edu.my/id/eprint/15309/1/Is%20money%20neutral%20in%20stock%20markets.pdf |
| _version_ | 1825945595869659136 |
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| author | Puah, Chin Hong Habibullah, Muzafar Shah Liew, Venus Khim Sen |
| author_facet | Puah, Chin Hong Habibullah, Muzafar Shah Liew, Venus Khim Sen |
| author_sort | Puah, Chin Hong |
| collection | UPM |
| description | The objective of this study is to examine whether the notion of monetary neutrality holds in Malaysian stock market. Our findings indicate that there is considerable evidence against the long-run neutrality (LRN) of money in Malaysian stock market. The important implication is that the stock market is inefficient with respect to money supply. Agents might have the opportunity to gain excess profit from the stock market using the information on changes in the stock of money to predict the movements in stock indexes. |
| first_indexed | 2024-03-06T07:33:57Z |
| format | Article |
| id | upm.eprints-15309 |
| institution | Universiti Putra Malaysia |
| language | English English |
| last_indexed | 2024-03-06T07:33:57Z |
| publishDate | 2010 |
| publisher | Economics Bulletin |
| record_format | dspace |
| spelling | upm.eprints-153092015-10-29T03:33:05Z http://psasir.upm.edu.my/id/eprint/15309/ Is money neutral in stock markets? the case of Malaysia. Puah, Chin Hong Habibullah, Muzafar Shah Liew, Venus Khim Sen The objective of this study is to examine whether the notion of monetary neutrality holds in Malaysian stock market. Our findings indicate that there is considerable evidence against the long-run neutrality (LRN) of money in Malaysian stock market. The important implication is that the stock market is inefficient with respect to money supply. Agents might have the opportunity to gain excess profit from the stock market using the information on changes in the stock of money to predict the movements in stock indexes. Economics Bulletin 2010-07-19 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/15309/1/Is%20money%20neutral%20in%20stock%20markets.pdf Puah, Chin Hong and Habibullah, Muzafar Shah and Liew, Venus Khim Sen (2010) Is money neutral in stock markets? the case of Malaysia. Economics Bulletin, 30 (3). pp. 1852-1861. ISSN 1545-2921 http://www.economicsbulletin.com/ English |
| spellingShingle | Puah, Chin Hong Habibullah, Muzafar Shah Liew, Venus Khim Sen Is money neutral in stock markets? the case of Malaysia. |
| title | Is money neutral in stock markets? the case of Malaysia.
|
| title_full | Is money neutral in stock markets? the case of Malaysia.
|
| title_fullStr | Is money neutral in stock markets? the case of Malaysia.
|
| title_full_unstemmed | Is money neutral in stock markets? the case of Malaysia.
|
| title_short | Is money neutral in stock markets? the case of Malaysia.
|
| title_sort | is money neutral in stock markets the case of malaysia |
| url | http://psasir.upm.edu.my/id/eprint/15309/1/Is%20money%20neutral%20in%20stock%20markets.pdf |
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