By Tarak Nath Sahu
The liberalization and globalization of the Indian economic system has made India extra prone to macro concerns. This publication presents a accomplished research of the dynamic courting among macroeconomic variables and inventory costs in India. The examine findings and coverage implications mentioned right here can also be correct for different rising economies.
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Extra resources for Macroeconomic Variables and Security Prices in India during the Liberalized Period
According to the generally accepted theory of Fama (1981), the money supply might also be related to future inflation uncertainty and policy response. An increased money supply can lead to a higher rate of inflation, and policy makers often increase interest rates to slow the demand and decrease inflation pressure, which in turn lowers the prices of the stock, thus resulting in a negative relationship between the two variables. Ibrahim and Yusoff (2001), among others, supported the theory that money supply and stock prices are negatively associated in the long run.
The ordinance conferred a wide range of powers upon SEBI, including the authority to prohibit insider trading, regulate substantial acquisition of shares, and the takeover of businesses. SEBI is entitled to protect the interests of investors and promote and develop the securities market by regulating its functioning. It works under the Ministry of Finance and has been given the status of an independent organization regulating each and every aspect of the securities market. It is backed by statute and is accountable to the Indian Parliament.
It empowers the regulatory authority to recognize and derecognize the stock exchanges and to stipulate laws and by-lays for their functioning. It prescribes conditions or requirements for enlisting the securities on the recognized stock exchanges. It empowers the Government of India to supersede the governing bodies of stock exchanges, to suspend business on recognized stock exchanges, to declare certain contracts illegal and void under certain circumstances, to prohibit contracts in certain cases, and to lay down penalties for contravention of the provisions of the Act.