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

Year: 2025

Type: article

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.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.15760939

Authors: Somaya Gendy,, El Sayed El siefy,, Dina Fadaly,

Institutions: Arab Academy for Science, Technology, and Maritime Transport, Alexandria University

Language: English

Topic: Market Dynamics and Volatility

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W6893327907

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