Theoretical and Applied Economics
No. 2 / 2024 (639), Summer
Impact of inflation and exchange rate on stock market returns in India: An ARDL approach
H R TEJESH
Vijayanagara Sri Krishnadevaraya University, India
Vijayanagara Sri Krishnadevaraya University, India
Abstract. The study examines the impact of exchange rate and inflation on stock market (Nifty-50) returns in India using monthly data spanning from April 2013 to February 2024. The autoregressive distributed lag (ARDL) cointegration and error correction parameterization approach is applied to analyse this relationship. The findings reveal an insignificant long-run association between stock market returns and both inflation and the exchange rate. However, there is a significant short-run relationship between stock market returns and both inflation and the exchange rate.
Keywords: ARDL cointegration, exchange rate, inflation, stock market returns, unit root test.
Download the full article: 
Contents
- Performance and risk – a changing
and complex relationship for banking business
Dan Costin NIȚESCU
Adina Elena CĂLIN
Eugen-Marian VIERESCU
- Westphalian order in pan-Arabism culture societies
Maria BUDEANU
- The generational divide – A debate on technology
and the decision-making process
Raluca Iuliana GEORGESCU
Dumitru Alexandru BODISLAV
- The trend of FDI inflows and its impact
on the Indian economy
Sushanta Kumar TARAI
Sudhakar PATRA
Dhananjoy DATTA
- Effects of exchange relative prices
on macroeconomic stability
in sub-Saharan African countries
Irifaar SOME
- Crowding-out, home bias and financial stability
in the aftermath of the sovereign debt crisis
Alexie ALUPOAIEI
Matei KUBINSCHI
Eugen RĂDULESCU
Alina ZAHARIA-ROTARU
- Is there convergence or divergence in per capita energy
consumption in sub-Saharan African countries?
Muhammed TIRAŞOĞLU
- Financial transformation through digitalisation:
India’s dual path of cash and cashless transaction
Nasira BANU M.
Ibrahim CHOLAKKAL
Abdul AZEEZ N.P.
- Nexus between global financial integration
and economic growth: An ARDL approach
Mohammad Omar FARUK
- Integration of ESG principles:
An initiative for transformation
from Linear Economy to Circular Economy
Shaheera Banu Z
V. VIMALA
- European funds for sustainable transport
and economic growth
Ana Maria BOCĂNEALĂ
Alexandra-Elvira GHERASIM
- What drives Tunisian economic growth:
urbanization or rural development?
Sayef BAKARI
Malek El WERIEMMI
- Impact of crypto currencies on performance of stock returns:
Evidence from BRICS countries
Sakthivel P.
Rajaswaminathan S.
- Forecasting gold price and inflation for India and US:
An analysis of ARIMA and Holt Winters models
Mukti KHETAN
Vijay KUMAR
Kalandi Charan PRADHAN
Mohd. Aziz SHAIKH
Mohd. ARSHAD
- ESG Global Score Indicator – The new sovereign rating
Case study – European Union
Ana Maria (MĂRĂȘESCU) NECULA
- Assessing the adoption of corporate social responsibility
on developing countries: Case of Jordan
Omar ALHATO
- ICT and economic growth:
Evidence from lower-middle
income countries of South Asia
Kirti SANWAL
Saba ISMAIL
- Future of cryptocurrency in India
Gaurav KUMAR
Bhartendu SINGH
Suraj Kumar SAMAL
Pandav Kumar CHAUDHARY
- The fintech frontier: Investigating fintech entrepreneurial
intentions in the light of fintech awareness
Abin JOHN
Selvaraj VANITHA
Muhammed JISHAM
