The Effect of Macroeconomic Factors on the Performance of the Egyptian Stock Market

The study addressed the impact of independent variables represented by macroeconomic factors, including inflation; interest rates, government expenditure, gold prices, foreign direct investment, imports, exports and political risks on the dependent variable, which is the Egyptian stock market performance which was accomplished using the EGX100 index from July 2006 to December 2022. The research problem focused on answering the main question: Is there an impact of macroeconomic variables on stock returns in the Egyptian stock market performance? The researcher found a positive significant relationship between the Egyptian stock market performance and inflation, interest rate, government expenditure, gold prices, foreign direct investment FDI and Exports. However, there is a positive insignificant relationship between the Egyptian stock market performance and imports while there is a negative insignificant relationship between the Egyptian stock market performance and political risk.

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Publication Details

Journal
Zenodo (CERN European Organization for Nuclear Research)
Published
2025-06-28
DOI
https://doi.org/10.5281/zenodo.15760940
Primary Topic
Financial Analysis and Corporate Governance
Type
article
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article

The Effect of Macroeconomic Factors on the Performance of the Egyptian Stock Market

Zenodo (CERN European Organization for Nuclear Research)
Financial Analysis and Corporate Governance
article

The Effect of Macroeconomic Factors on the Performance of the Egyptian Stock Market

article en

Abstract

The study addressed the impact of independent variables represented by macroeconomic factors, including inflation; interest rates, government expenditure, gold prices, foreign direct investment, imports, exports and political risks on the dependent variable, which is the Egyptian stock market performance which was accomplished using the EGX100 index from July 2006 to December 2022. The research problem focused on answering the main question: Is there an impact of macroeconomic variables on stock returns in the Egyptian stock market performance? The researcher found a positive significant relationship between the Egyptian stock market performance and inflation, interest rate, government expenditure, gold prices, foreign direct investment FDI and Exports. However, there is a positive insignificant relationship between the Egyptian stock market performance and imports while there is a negative insignificant relationship between the Egyptian stock market performance and political risk.

Zenodo (CERN European Organization for Nuclear Research)
Arab Academy for Science, Technology, and Maritime Transport (EG), Alexandria University (EG)
Openalex Percentile: Top 42%
Financial Analysis and Corporate Governance
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The Effect of Macroeconomic Factors on the Performance of the Egyptian Stock Market · Zenodo (CERN European Organization for Nuclear Research) (2025) | TGRS Research Map | TGRS