期刊名称：Journal of Economics and Sustainable Development
印刷版ISSN：2222-2855
电子版ISSN：2222-2855
出版年度：2013
卷号：4
期号：11
页码：1-11
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：This paper investigates the causal relationship between stock market development and economic growth for Jordan for the period 2000-2012 using a Vector Error Correction Model (VECM). The purpose of this paper is to examine the relationship between ASE market index and Jordan's national economic development (Real GDP). Researchers applied Johansen co-integration analysis based on classical unit roots tests. The results of Granger causality tests indicated that there is a unidirectional causality between stock market development and economic growth with direction from stock market development to economic growth. Granger Co integration indicated that all t-statistics were significant which indicates that variables have long-term relationship. Unit root test showed that all sector indexes have non-standing existence; while GARCH-M revealed that research hypotheses have mixed results and were not exclusively rejected.
关键词：Stock market; Economic growth; VAR model; Granger causality.
