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Essay text:
In the contemporary scenario, which can be described by increasing integration of the financial markets and implementation of various stock market reform measures in India, the activities in the stock markets and their relationships with the macro economy have assumed significant importance. The present paper is an attempt to examine for India the causal relationships between the share price index and industrial production in a multivariate vector error correction model which involved certain other crucial macroeconomic variables namely money supply, credit to the private sector, exchange rate, wholesale price index, and money market rate for the reason of right and robust model specification...
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Common topics in this essay:
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