简介:Thispaperexaminestherelationshipbetweenstockmarket(KSE-100),moneymarket(M2and180daysT-billrate),andforeignexchangemarket(ER:PKR/USD)inPakistanbyusingmonthlydatacoveringtheperiodfrom2000:M1to2015:M12.Thestudyinvestigateslong-runequilibriumrelationshipbetweenthesethreefinancialmarketsbyemployingJohansenandJuselius[1]cointegrationtests.Long-runandshort-runcausalityrelationshipbetweenstockmarketandothermacroeconomicvariablesisalsoestablishedbyemployingvectorerrorcorrectionmodel(VECM)andpairwisegrangercausalitytests.Theresultsofmultivariatecointegrationtest(tracetest)indicateaonecointegratingvector,andthesignificantnormalizedcointegratingcoefficientsareevidentoflongrunequilibriumrelationshipbetweenalltheselectedvariables.NegativeandsignificantECT(-1)forallvariablesduringfullsampleperiodwitnessthepresenceoflong-runcausalityconnectionamongvariables,whileduringthemilitaryregimeanddemocraticregime,significantdifferenceoflong-runcausalconnectionsareidentifiedacrosstheregimes.Moreover,theresultsofgrangercausalitytestalsoindicatethattherearesignificantvariationsinthecausalityrelationshipamongvariablesacrosstheregimes.Therefore,itisessentialforforecasting,planningandpolicymakingtoconsidertheimportanceofpoliticalgovernancesystemwhileanalyzingthehistoricalcointegrationamongfinancialmarketandmakethenecessaryadjustmentsaccordingly.
简介:Priceoffuturegreenvehicle-BuickRegal2.4LECO-Hybrid,whichfirsttyrealizedbatchproductioninShanghai,wasformallyannouncedthepriceonJuly15thwithsellingpriceofRMB$269,900.Thenewcarcansaveup15%offueloveroriginalstyleandreduceup15%ofemissiondischarge.ButthepriceismorethanRMB$20,000higherthanordinaryRegal.
简介:REMarketJune10-20DrivenbypricerisingofNdandPr,domesticREmarketwasveryactiverecently.ItwasthoughtthatthepricerisingwasledbythelargedemandofNdFeBmagnetindustryandtightsupplyofRErawmaterials.ProductionofREconcentrateinSichuanwastemporarilysuspendedrecently,whichresultedintheceasedproductionofmostlocalseparationplants.REcarbonatesand
简介:REMarketWentSteadilybytheEndofNovemberRareearthmarketwentsteadilybytheendofNovemberMostoftheproducersbelievetherewillnotbemuchfluctuationinthepriceofrareearthproductsatthebeginningofDecember.Butinfact,pricesofsomerareearthoxidesandmetals,suchasdysprosiumoxideandDy-Fe,aredeclining.Disclosedbymajorrareearthcarbonatesuppliers,factorypriceofREcarbonatemaintainedatButfactorypriceofmostplantswasreducedtoRMBOneplantinBaotoueve...
简介:ExportPriceofREProductsRisingatTianjinPortTianjinCustomstatisticsshowedthattotal27,000tonsofrareearthproductsvaluedatUS$94.62millionwereexportedatTianjinportfromJanuarytoOctoberin2006,reducing3.8%overthesameperiodof2005.TheaverageexportpricewasUS$:3,504/ton,up40.25%overthesameperiodof2005.
简介:LearnedfromInnerMongoliaRareEarthAssociation,domesticrareearthmarketwasingoodsituationdrivenbyhighdemand.Priceofneodymiumrosestrongly.Dysprosiumoxideandterbiumoxidestillhoveredatthehigherpricelevel.Priceofeuropiaremainedstable.