An empirical analysis of Istanbul stock exchange sub-indexes
Studies in Nonlinear Dynamics and Econometrics
Walter de Gruyter GmbH
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Please cite this item using this persistent URLhttp://hdl.handle.net/11693/38068
This paper analyzes possible cointegration relations among the sub-indexes of the Istanbul Stock Exchange series - services sector, industry sector and financial sector - for the period from February 1, 1997 to September 24, 2003. The data is analyzed by using various methods initiated by Engle and Granger (1987), Johansen (1988) and Akdi (1995). The basic finding of this study is that none of these methods suggest the presence of cointegrating relationships among these indexes.