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| Kunlin Hsieh, Yuching Hsieh and Shigeyuki Hamori |
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| ''The Interdependence of Taiwanese and Japanese Stock Prices'' |
| ( 2010, Vol. 30 No.1 ) |
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| This paper empirically analyzes the relationship among the prices of Taiwanese stocks, Japanese stocks, and crude oil from January 1980 to July 2008. It provides some interesting results: (1) crude oil prices made an impact on Japanese stock prices, while the latter exerted a strong influence on Taiwanese stock prices during the period of Japan's economic growth; (2) however, no causality was observed among the variables during the Japanese economy's "lost decade"; and (3) causality from Japanese stock prices and crude oil prices to Taiwanese stock prices was observed during the period of Japan's economic recovery. |
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| Keywords: Taiwanese stock prices, Japanese stock prices, LA-VAR |
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
O1 - Economic Development: General |
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| Manuscript Received : Mar 16 2010 | | Manuscript Accepted : Mar 29 2010 |
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