THE ANALYSIS OF THE RELATION BETWEEN THE EVOLUTION OF THE BET INDEX AND THE MAIN MACROECONOMIC VARIABLES IN ROMANIA (1997-2008)

Starting from the conclusions which result from conducting some similar empirical studies on the great stock markets, in this work, we have set as our goal to analyze the return series behaviour of the main index of the Bucharest Stock Exchange (BSE) - the BET index, during different periods of time, compared to the evolution of some macroeconomic variables, like interbank interest rates, inflation rate or unemployment rate. The results confirm that there is a weak relation between these variables, in what monthly data are concerned.