Department of Mathematical Sciences¹
University of Texas at El Paso
El Paso, Texas

School of Theoretical and Applied Science²
Ramapo College of New Jersey
Mahwah, New Jersey

Macro-Financial Linkages in Emerging Markets: The Interconnectedness between Macroeconomic Variables and Financial Markets

This study investigates how interest and exchange rates in Ghana’s emerging market affect stock market returns. Using ARIMA and SARIMAX models, it analyzes temporal patterns and the influence of these factors. The findings suggest a complex relationship, indicating limited predictive power due to unexplored variables and market dynamics.

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