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Macroeconomic variables and portfolio investment in Bahrain using an ARDL bound testing approach

The main aim for the current paper is to shed some light on some macroeconomic variables that affect the portfolio investment in one of the Middle East countries (Bahrain) for the period 1989-2018. Autoregressive Distributed Lag (ARDL) test was employed. | Macroeconomic variables and portfolio investment in Bahrain using an ARDL bound testing approach Accounting 6 2020 465 472 Contents lists available at GrowingScience Accounting homepage www.GrowingScience.com ac ac.html Macroeconomic variables and portfolio investment in Bahrain using an ARDL bound testing approach Mohammad Salem Oudata Hafnida Hasana and Ayman Abdalmajeed Alsmadib aApplied Science University Bahrain bLusail University Jordan CHRONICLE ABSTRACT Article history The main aim for the current paper is to shed some light on some macroeconomic variables that affect Received March 22 2020 the portfolio investment in one of the Middle East countries Bahrain for the period 1989-2018. Received in revised format March Autoregressive Distributed Lag ARDL test was employed. The findings revealed that there was a 30 2020 long run relationship between portfolio and macroeconomic factors. The variable can cause portfolio Accepted April 19 2020 Available online investment only for consumer price index and gross domestic product in long run. Meanwhile it found April 19 2020 only consumer price index has statistically significant effect with portfolio investment in short-run. Keywords Portfolio investment Macroeconomics Autoregressive Distributed Lag ARDL 2020 by the authors licensee Growing Science Canada 1. Introduction Economists and financial consultants always offer substantial advice in accordance with the famous proverb don t put all your eggs in one basket this means that if you prefer to have an efficient and profitable investment you should diversify your investment in different firms instead to rely into a single firm that whether if there is an economic boom in the country and companies with high efficiency and profitability these companies may suffer from the uncertainty and therefore the decline in value and may falter and fail as a consequences you will lose your own wealth when you depend on single firm. Accordingly to reduce the losses from single