Friberg, Richard; Nydahl, Stefan - In: International Journal of Finance & Economics 4 (1999) 1, pp. 55-62
The relationship between the valuation of the stock market and an effective exchange rate is examined. Monthly data on 11 industrialized countries, for the period 1973-96, are used. It is found that the more open the economy, the stronger is the (positive) relationship between return on the...
