The causal relationship between stock market trading volume and GDP : evidence from Iceland
The Icelandic economy and the Icelandic Stock Exchange have endured tremendous volatility in recent years. While the Icelandic economy has made a miraculous recovery from the financial crisis in 2008, the recovery of the Icelandic Stock Exchange has been less than ideal. These conditions have create...
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ftskemman:oai:skemman.is:1946/28183 2023-05-15T16:44:15+02:00 The causal relationship between stock market trading volume and GDP : evidence from Iceland Arnar Már Runólfsson 1993- Ólöf Ragna Sigurðardóttir 1994- Háskólinn í Reykjavík 2017-06 application/pdf http://hdl.handle.net/1946/28183 en eng http://hdl.handle.net/1946/28183 Viðskiptafræði Verðbréfamarkaðir Verg landsframleiðsla Business administration Stock exchanges Iceland Gross domestic product Thesis Bachelor's 2017 ftskemman 2022-12-11T06:53:16Z The Icelandic economy and the Icelandic Stock Exchange have endured tremendous volatility in recent years. While the Icelandic economy has made a miraculous recovery from the financial crisis in 2008, the recovery of the Icelandic Stock Exchange has been less than ideal. These conditions have created an interesting situation for investigating the linkage between GDP and stock market development in Iceland. Previous investigations have in some instances, found evidence of a linkage between stock market development and economic growth. In spite of that, limited research has been conducted on this relationship in Iceland. This paper examines the causal relationship between Icelandic GDP and stock market trading volume in Iceland, in a sixteen-year period from 1999 to 2015. Using trading volume data from the Icelandic Stock Exchange and Icelandic GDP data, a Granger-causality test was performed in order to analyze the linkage, and the direction of causality between the variables. The findings of the statistical analysis fail to indicate the direction of the causality between changes in GDP and changes in trading volume. Keywords: Trading Volume, Gross Domestic Product, Granger-causality, Icelandic Financial Market, Icelandic Stock Exchange. Thesis Iceland Skemman (Iceland) |
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Skemman (Iceland) |
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English |
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Viðskiptafræði Verðbréfamarkaðir Verg landsframleiðsla Business administration Stock exchanges Iceland Gross domestic product |
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Viðskiptafræði Verðbréfamarkaðir Verg landsframleiðsla Business administration Stock exchanges Iceland Gross domestic product Arnar Már Runólfsson 1993- Ólöf Ragna Sigurðardóttir 1994- The causal relationship between stock market trading volume and GDP : evidence from Iceland |
topic_facet |
Viðskiptafræði Verðbréfamarkaðir Verg landsframleiðsla Business administration Stock exchanges Iceland Gross domestic product |
description |
The Icelandic economy and the Icelandic Stock Exchange have endured tremendous volatility in recent years. While the Icelandic economy has made a miraculous recovery from the financial crisis in 2008, the recovery of the Icelandic Stock Exchange has been less than ideal. These conditions have created an interesting situation for investigating the linkage between GDP and stock market development in Iceland. Previous investigations have in some instances, found evidence of a linkage between stock market development and economic growth. In spite of that, limited research has been conducted on this relationship in Iceland. This paper examines the causal relationship between Icelandic GDP and stock market trading volume in Iceland, in a sixteen-year period from 1999 to 2015. Using trading volume data from the Icelandic Stock Exchange and Icelandic GDP data, a Granger-causality test was performed in order to analyze the linkage, and the direction of causality between the variables. The findings of the statistical analysis fail to indicate the direction of the causality between changes in GDP and changes in trading volume. Keywords: Trading Volume, Gross Domestic Product, Granger-causality, Icelandic Financial Market, Icelandic Stock Exchange. |
author2 |
Háskólinn í Reykjavík |
format |
Thesis |
author |
Arnar Már Runólfsson 1993- Ólöf Ragna Sigurðardóttir 1994- |
author_facet |
Arnar Már Runólfsson 1993- Ólöf Ragna Sigurðardóttir 1994- |
author_sort |
Arnar Már Runólfsson 1993- |
title |
The causal relationship between stock market trading volume and GDP : evidence from Iceland |
title_short |
The causal relationship between stock market trading volume and GDP : evidence from Iceland |
title_full |
The causal relationship between stock market trading volume and GDP : evidence from Iceland |
title_fullStr |
The causal relationship between stock market trading volume and GDP : evidence from Iceland |
title_full_unstemmed |
The causal relationship between stock market trading volume and GDP : evidence from Iceland |
title_sort |
causal relationship between stock market trading volume and gdp : evidence from iceland |
publishDate |
2017 |
url |
http://hdl.handle.net/1946/28183 |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
http://hdl.handle.net/1946/28183 |
_version_ |
1766034553223249920 |