THE IMPACT OF SELECTED MACROECONOMIC VARIABLES ON STOCK MARKET: THE CASE OF TURKEY-Reference-Cited by-同舟云学术

THE IMPACT OF SELECTED MACROECONOMIC VARIABLES ON STOCK MARKET: THE CASE OF TURKEY

Published:2022-10-03 Issue: Volume: Page:
ISSN:2602-2486
Container-title:Finans Ekonomi ve Sosyal Araştırmalar Dergisi
language:tr
Short-container-title:FESA

Author:

DURGUT Esra,DEMİREL ARICI Nuray¹

Affiliation:

1. MANİSA CELÂL BAYAR ÜNİVERSİTESİ, İŞLETME FAKÜLTESİ

Abstract

The role of information in financial markets is an area that has been researched for many years. Financial asset prices can be affected by many rational and irrational factors. Macroeconomic indicators are one of these factors. For this reason, the relationship between macroeconomic variables and capital markets is a subject that is frequently examined in the literature. The aim of this study is to determine the relationships between macroeconomic indicators and BIST-100 index between 2005:1 and 2019:12 in Turkey. Time series analysis was used in the study. The stationarity of the series was investigated by ADF and PP unit root tests. The relationships between the variables were tested with cointegration, vector error correction model and granger causality tests. As a result of the study, it has been determined that the time series move together in the long run, but this relationship is quite limited.

Publisher

Finans Ekonomi ve Sosyal Arastirmalar Dergisi

Subject

General Computer Science

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