FAİZ ORANI - DÖVİZ KURU VE BİST100 ETKİLEŞİMİ: MAKI EŞ - BÜTÜNLEŞME ANALİZİ
INTEREST RATES - EXCHANGE RATE AND BİST100 INTERACTION: MAKI CO-INTEGRATION ANALYSIS
Author(s): Abdulkadir Barut, Sadık Karaoğlan, Mehmet Emin KarabayirSubject(s): Economy, Financial Markets
Published by: Kafkas Üniversitesi Sağlık, Kültür ve Spor Daire Başkanlığı Dijital Baskı Merkezi
Keywords: Interest Rate; Exchange Rate; BİST100; Cointegration;
Summary/Abstract: In this study, the effects of interest rate and exchange rate on BİST100 National Index have been studied for 2004: M1-2016: M10 periods for Turkey. For the analyses used in the study; Multiple Structural Breaks Unit Root Test developed by Carrion-i-Silvestre et al. (2009) for unit root tests, Multiple Structural Breaks Co-integration Test of Maki (2012) for long-term relationships and Dynamic Ordinary Least Squares (DOLS) Method for long-term error corrections were used. According to the empirical findings of the survey, it was determined that increases in interest rate influence BİST100 National Index negatively, and this result is supported by literature. On the other hand, roll-ups in exchange rate affect BİST100 National Index positively in Turkey.
Journal: Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
- Issue Year: 8/2017
- Issue No: 16
- Page Range: 503-523
- Page Count: 21
- Language: Turkish
