Stock market developments and private consumer spending in emerging markets /
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Author / Creator: | Funke, Norbert. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2002. |
Description: | 1 online resource (23 pages) : illustrations |
Language: | English |
Series: | IMF working paper, 2227-8885 ; WP/02/238 IMF working paper ; WP/02/238. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496078 |
Summary: | Using a panel of 16 emerging markets, the paper finds a small but statistically significant effect of stock market developments on private consumption spending. In the short run, a 10 percent decline in the annual real stock market return is associated with a reduction in real private consumption by around 0.1-0.3 percent on average. There is evidence that the link between stock market fluctuations and private consumption has become stronger during the 1990s as stock markets in emerging economies have broadened and deepened. However, there is no significant evidence that the influence is asymmetric. Stock price declines do not have a different impact on consumption than stock price increases. |
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Physical Description: | 1 online resource (23 pages) : illustrations |
Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
Bibliography: | Includes bibliographical references (pages 21-23). |
ISBN: | 128356694X 9781283566940 1451920350 9781451920352 1452764158 9781452764153 9786613879394 6613879398 |
ISSN: | 2227-8885 ; |