International Conference on Eurasian Economies
9-11 September 2015 – Kazan, RUSSIA
Paper detail
Paper ID : 1278
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Prof. Dr. Selçuk Kendirli
Session : 6C Finans
Effects of USD Exchange Rate over the Istanbul Stock Market 30 Index and Investigation of the Relationship between Them
Dolar Kuru’nun Borsa İstanbul-30 Endeksi Üzerindeki Etkisi ve Aralarındaki Nedensellik İlişkisinin İncelenmesi
- Prof. Dr. Selçuk Kendirli (Hitit University, Türkiye)
- Ph.D. candidate Muhammet Çankaya (Hitit University, Türkiye)
Abstract
It is known that financial markets have important place in today's economy. Individuals could be evaluated their saving with their own research or they could be evaluated their savings with financial experts recommendations. A large portion of those funds of individual or institutional investors managed are directed to the stock market of the country. When considered in terms of Turkey, Istanbul Stock Exchange is examples for this topic. The changes in economic data, is influenced to many variables especially the stock market. It is perceived in the market as bad data that the rising in unemployment, the reduction of industrial production, the increases in interest rates and cost of credit, the increase in foreign exchange rates. In this study, it was investigated the causality of the dollar exchange rate between Istanbul Stock Exchange National 30 Index (BIST-30) with "Granger Causality Test". Monthly values are used including the period of 2009:1 (January of 2009) between period of 2014:12 (December 2014) as data set. We used the first trading day closing values in the calculation of monthly returns for the period. At the end of the study, we couldn’t find any causal relationship between the dollar exchange rate and the BIST-30 Index.
JEL codes: D53, E44
Kendirli, Selçuk, Çankaya, Muhammet (2015). "Effects of USD Exchange Rate over the Istanbul Stock Market 30 Index and Investigation of the Relationship between Them" in Proceedings of International Conference of Eurasian Economies 2015, pp.505-512, Kazan, RUSSIA.
DOI: https://doi.org/10.36880/C06.01278
