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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Main Author: Caroline Geetha
Format: Article
Language:English
English
Published: The International Business & Economics Research Journal (IBER) 2010
Subjects:
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
https://eprints.ums.edu.my/id/eprint/29282/
https://clutejournals.com/index.php/IBER/article/view/621
https://doi.org/10.19030/iber.v9i9.621
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Institution: Universiti Malaysia Sabah
Language: English
English
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spelling my.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
institution Universiti Malaysia Sabah
building UMS Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sabah
content_source UMS Institutional Repository
url_provider http://eprints.ums.edu.my/
language English
English
topic HG1-9999 Finance
spellingShingle HG1-9999 Finance
Caroline Geetha
Capital market and the transmission channel of the monetary policy: empirical evidence on the money view
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.
format Article
author Caroline Geetha
author_facet Caroline Geetha
author_sort Caroline Geetha
title 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_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_sort capital market and the transmission channel of the monetary policy: empirical evidence on the money view
publisher The International Business & Economics Research Journal (IBER)
publishDate 2010
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
https://eprints.ums.edu.my/id/eprint/29282/
https://clutejournals.com/index.php/IBER/article/view/621
https://doi.org/10.19030/iber.v9i9.621
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