In recent years, the main determinants of gold price have changed worldwide due to the increasing demand of gold. Additionally, TAIFEX provided investors with anothor trading instruments by launching US Dollar-denominated Gold Futures.
Therefore, Taiwan gold market and stock market might interact more closely than before. The purpose of this study was to examine the endogenous relationship between gold price and stock price, and then analyze both markets with multi-equation simulation model and two-stage least squares method.
The result shows that there is endogenous relationship between these two variables. Besides, depreciation of US dollar would lead to a rise in gold price which is denominated by US dollar. Exchange rate and stock price also moved in opposite directions. Finally, the launching of gold futures truly interested the investors and boosted the gold price.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-1127108-224604 |
| Date | 27 November 2008 |
| Creators | Chang, Yi-hung |
| Contributors | Ming-Chi Chen, Chen,Yueh H., Y. Chris Liao |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-1127108-224604 |
| Rights | not_available, Copyright information available at source archive |
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