Browsing by Author "Dinçer, N."

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    The centre and periphery relations in international stock markets
    (Routledge, 2006) Berument, Hakan; Dinçer, N.; Olgun, H.
    Encouraged by the findings of the recent studies it is argued that a kind of centre-periphery relation has been emerging between the equity markets of the developed and less developed countries. To test the argument the VAR model is employed with block exogeneity. Empirical results show that S&P500 returns, representing the centre, affect the equity markets of the emerging markets either instantaneously or with a time lag depending on their geographical location.