Research Article
The Dynamic Relationship between Macroeconomy and Stock Market in China: Evidence from Bayesian Network
Table 2
Macroeconomic factors list.
| Factor | Abbreviation | Description |
| Industrial added value | IAV | IAV growth rate on a month-on-month basis | Consumer index price | CPI | CPI growth rate on a month-on-month basis | Producer index price | PPI | PPI growth rate on a month-on-month basis | Fixed asset investment | FAI | FAI growth rate on a month-on-month basis | Retail sales of social consumer goods | RSCG | The total retail sales of social consumer goods | Export | EV | Export value growth rate on a month-on-month basis | Social financing | SF | Total social financing growth rate on a month-on-month basis | M2 | M2 | Broad money supply growth rate | Li Keqiang Index | KI | KI = industrial power growth∗40% + medium and long-term loan balance growth∗35% + railway volume growth∗25% | Purchasing Manager Index | PMI | PMI deviation from 50% | Exchange rate | ER | Exchange rate between RMB and USD | Interest rate | IR | Shibor interest rate of 1W |
|
|