Is there a stock market wealth effect in emerging markets?

被引：39

作者：

Funke, N ^{[1
]}

机构：

[1] Int Monetary Fund, Washington, DC 20431 USA

来源：

ECONOMICS LETTERS | 2004年 / 83卷 / 03期

关键词：

consumption; stock markets; financial wealth;

D O I：

10.1016/j.econlet.2003.12.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using a panel of 16 emerging markets, this paper presents some evidence for a small but statistically significant stock market wealth effect. Over a 3-year period a 10% decline (increase) in stock prices is associated, on average, with a 0.2-0.4% decrease (increase) in private consumption. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：417 / 421

页数：5