Existence d’une relation d’équilibre entre variables économiques et variables financières sur le marché français

Assets managers use financial institutions market studies to allocate assets. These studies show the evolution of financial and economic variables. These variables contribute to the determination of assets price. The purpose of this paper is to test the existence and the form of a relation on the French financial market between the equity or interest rates prices and the economic variables variations. Three long term equilibrium relations are enlighted. The French short term interest rates are linked to the French long term interest rates and the American short term interest rates. The French long term interest rates are linked to the domestic debt, the consumption prices, the industrial production and the American long term interest rates. Then the SBF 250 index with dividends is linked to the industrial production, the short and long term interest rates and the S&P 500 with dividends.