Does stock market performance affect the government satisfaction rating in the UK?

In this study, we attempt to answer the question of whether stock market performance affects the government satisfaction rating in the long run in a sample period spanning 1984:Q1 to 2013:Q2 in the UK. We examine both the equilibrium relationship and the causality relationship between stock market p...

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Bibliographic Details
Published in:Empirical economics 2017-11, Vol.53 (3), p.999-1009
Main Authors: Sen, Sedef, Donduran, Murat
Format: Article
Language:English
Subjects:
Causality
Customer satisfaction
Econometrics
Economic models
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Excellence
Finance
Government
Insurance
Management
Ratings & rankings
Securities markets
Statistics for Business
Voters
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Summary:In this study, we attempt to answer the question of whether stock market performance affects the government satisfaction rating in the long run in a sample period spanning 1984:Q1 to 2013:Q2 in the UK. We examine both the equilibrium relationship and the causality relationship between stock market performance and government satisfaction rating. The results indicate that the voters are sensitive to the economic shocks and hold responsible for the government. The empirical results confirm the responsibility hypothesis.
ISSN:0377-7332
1435-8921
DOI:10.1007/s00181-016-1156-7