Komparace vývoje akciového trhu a HDP ve vybrané zemi

Abstract

Stock market is a natural part of each developed market economy. GDP as the most common statistic value describing the economic process is also used in every country. All together it is not surprising that the interconnection between these two variables is a subject of many research projects. The main aim of the diploma thesis is to compare the development of FTSE_100 and GDP in Great Britain during the period of 1990 to 2009. The thesis is divided into four chapters. The description of the stock market, methodology of GDP counting and the overview of other macroeconomic factors that influence the stock market are the key points of the first chapter. In the second chapter, there are listed theories of the econometric research (stacionarity, cointegration, Error Correction Model). The crucial part of the diploma thesis is the third chapter, in which the cointegration between variables is analyzed and in consequence with the outcome the ECM is created. Finally, all results of the comparison and relations between FTSE_100 and GDP in Great Britain are summarized in the fourth and fifth chapter.