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dc.contributor.authorSolberg, Stian
dc.contributor.authorRongved, Henrik
dc.date.accessioned2018-12-21T12:17:31Z
dc.date.available2018-12-21T12:17:31Z
dc.date.issued2018
dc.identifier.urihttp://hdl.handle.net/11250/2578636
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2018nb_NO
dc.description.abstractWe investigate the dynamic relations between the Norwegian stock market and various macroeconomic variables by employing a cointegration test and the vector error correction model (VECM). The data reveals that Oslo Børs benchmark Index and the selected macroeconomic variables are cointegrated, confirming that there exists a long-run equilibrium relationship. Consistent with US, Japanese and Singaporean discoveries, positive dynamic relations are found between Norwegian stock market and the variables Deutscher Aktien index and exchange rate USD/NOK. Negative dynamic relations are found between the stock market and the variables exchange rate EUR/NOK and unemployment rate. Lastly, a causality running from the Deutscher Aktien index and unemployment rate to Oslo Børs benchmark index was found in the analysis. We conclude that the relationship found in larger market from previous research, are also to some degree valid in a smaller and open economy like Norway.nb_NO
dc.language.isoengnb_NO
dc.publisherHandelshøyskolen BInb_NO
dc.subjectfinansnb_NO
dc.subjectfinancenb_NO
dc.titleDynamic relations between the Norwegian stock market and macroeconomic variablesnb_NO
dc.typeMaster thesisnb_NO


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