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http://dx.doi.org/10.1016/S0927-538X(01)00020-8

has been cited by the following article:

• TITLE: Is Stock Prices and Economic Activity in India Co-Integrated?

  AUTHORS: G. P. Girish, S. Vijayalakshmi

  KEYWORDS: Stock Prices, India, IIP, Co-Integration, Industrial Production

  JOURNAL NAME: Theoretical Economics Letters, Vol.6 No.2, April 27, 2016

  ABSTRACT: In this study we investigate whether stock prices and economic activity in India are co-integrated by using monthly data from 1960 to 2013 and applying high-powered co-integration tests which have an inherent advantage of permitting structural changes in the relationships being tested and in asymmetric co-integration, along with frequently applied co-integration tests of Engle and Granger (1987) and Johansen (1988). The results of the study provide empirical evidence for reasonably saying that stock prices and economic activity in India are co-integrated and validate the prediction in financial economics literature.