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Can Central Banking Policies Make a Difference in Financial Market Performance in Emerging Economies? The Case of India

Authors
  • sharma, gagan deep
  • mahendru, mandeep
  • srivastava, mrinalini
Publication Date
May 20, 2019
Source
MDPI
Keywords
Language
English
License
Green
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Abstract

Y V Reddy, D Subbarao, and Raghuram Rajan. The paper discusses the central banking policies in these periods with respect to monetary stability, inflation, and growth challenges. The paper presents an analysis of returns and volatility in stock markets and currency markets in their tenures in comparison with those from other selected emerging markets (Brazil, Russia, China, South Africa) and developed markets (USA and UK). The paper also brings out the leverage effect by applying the exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model in addition to comparatively analyzing the performance of financial markets. Further, the paper assesses the impact of central banking policies on financial markets by using the fixed effect model on the reference countries for the period under reference.

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