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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/642
Title: Stock market wealth effects on consumption: empirical evidence from Vietnam
Authors: Nguyen Huynh Truc An 
Keywords: Stock market;Wealth;Consumption;Vietnam
Issue Date: 2016
Publisher: Vietnamese-German University
Abstract: 
,
In Vietnam, the topic of the stock market’s impact on private behavior such as household consumption is a quite less thoroughly researched issue, given that consumption plays a dominant role in Vietnamese macro and financial economics and that understanding stock market wealth effect is required for the monetary mechanism and the efficacy of monetary policy. In view of those important implications, this paper primarily aims to investigate the role of stock prices on consumption and is hoped to contribute to the recent stock market-consumption condition in Vietnam. With this purpose, the question is raised: Do stock prices changes cause any impact on consumption in Vietnam?
In the following analysis, the long-run co-integrating relationship is estimated by ARDL approach to co-integration with bound test by Pesaran, Shin and Smith (2001). The rest of the paper is structured as follows. Section 2 reviews existing literature on the stock prices’ wealth effect on household expenditure. Section 3 presents the overall background on Vietnam’s economy, especially Vietnamese stock market and consumption. Section 4 outlines the mode specification. Section 5 describes the data and methodology. Section 6 presents the empirical results. Main considerations are discussed in section 6. Section 7 concludes.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/642
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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