Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)

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Impacts of The Macroeconomic Environment on Financial Markets--Empirical Study Based on VAR Modeling

Authors
Zhenyao Wang1, *
1Nanjing Audit University, Nanjing, 211815, China
*Corresponding author. Email: 211050420@stu.nau.edu.cn
Corresponding Author
Zhenyao Wang
Available Online 24 February 2025.
DOI
10.2991/978-94-6463-652-9_19How to use a DOI?
Keywords
Macroeconomics; financial markets; vector autoregressive model
Abstract

In the modern economic system, the interactions between macroeconomic variables and financial markets constitute a complex and closely related network of relationships. This study aims to systematically analyze the impact of macroeconomic variables on China’s financial market and its transmission mechanism. In this paper, the monthly total import and export, consumer price index (CPI), money supply (M2) and unemployment rate from January 2018 to April 2024 are selected as the main macroeconomic indicators, and the SSEC composite index and interbank lending rate are taken as the representative variables of the financial market, and a vector autoregression (VAR) model is constructed to reveal how the above macroeconomic variables affect the financial market through multiple paths of The VAR model is constructed to reveal how the above macroeconomic variables affect the dynamics of the financial market through multiple paths. Finally, it is concluded that the total amount of import and export, money supply and unemployment rate have a negative impact on the interbank lending rate, while the consumer price index has a positive impact on it; the SSEC index is weakly affected.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
24 February 2025
ISBN
978-94-6463-652-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-652-9_19How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Zhenyao Wang
PY  - 2025
DA  - 2025/02/24
TI  - Impacts of The Macroeconomic Environment on Financial Markets--Empirical Study Based on VAR Modeling
BT  - Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)
PB  - Atlantis Press
SP  - 181
EP  - 192
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-652-9_19
DO  - 10.2991/978-94-6463-652-9_19
ID  - Wang2025
ER  -