Tag Archive | "Stock Market"

Causality Analysis of the Impact of Monetary Policy on Stock Markets: The Case of Turkey

In this paper, the effects of monetary policies on the Borsa Istanbul (BIST) stock market have been examined in Turkey for the period 2006-2016. The obtained findings point out some significant effect of the monetary policy on BIST stock market prices and returns in Turkey. In this context Johansen Cointegration and Granger Causality test methods were used. According to the Johansen Cointegration results it proves to be a long-run relationship between the series included. Moreover, the Granger Causality test results suggest an important relationship from the money supply (M2) and deposit interest rate (DIR) variables towards the BIST stock market price index (BIST100F) and return index (BIST100G).

  Causality Analysis of the Impact of Monetary Policy on Stock Markets: The Case of Turkey (734.7 KiB, 747 hits)

Posted in Volume VII, Issue no. 4

The Relationship between Petroleum Prices and Stock Exchange Istanbul: Hidden Cointegration Analysis

Petroleum is the life source of modern economies. As countries become urbanized and modernized, petroleum demand would increase dramatically. Predicting future demand for petroleum is quite difficult but it is closely related to industrial production. Therefore, the petroleum demand of countries exhibiting rapid economic growth would also increase rapidly, and the rapid increase in demand for petroleum would cause higher petroleum prices if not compensated by the supply increase. For this reason, the main purpose of the study is to examine the effect of oil prices on the Istanbul Stock Exchange in Turkey as a developing country with hidden cointegration test which is presented by Granger and Yoon (2002). The results indicate that the variables are not co-integrated and therefore there is no long-run relationship between petroleum price shocks and the closing values of Istanbul Stock Exchange.

  The Relationship between Petroleum Prices and Stock Exchange Istanbul: Hidden Cointegration Analysis (1.4 MiB, 396 hits)

Posted in Economics, Information Technology, Knowledge Management, Volume VII, Issue no. 4