This paper examines the long-term as well as short-term equilibrium relationships between the major stock indices and selected macroeconomic variables (such as money supply and interest rate) of Singapore and the United States by employing the advanced time series analysis techniques that...

This paper examines the long- run equilibrium relationships between the major stock indices of Singapore and the United States and selected macroeconomic variables by means of time series data for the period January 1982 to December 2002. The results of various cointegration tests suggest that...