Long-run and short-run links among the Turkish stock market and developed markets

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buir.advisorAkdeniz, Levent
dc.contributor.authorDemirtaş, İsmail
dc.date.accessioned2016-07-01T10:55:37Z
dc.date.available2016-07-01T10:55:37Z
dc.date.issued2002
dc.departmentDepartment of Managementen_US
dc.descriptionCataloged from PDF version of article.en_US
dc.description.abstractOne of the striking facts about the international economy is the high degree of integration, or linkage, among financial, or capital markets. Careful examination of international stock market movements in recent years suggests that there exists a substantial degree of interdependence among national stock markets. This thesis tests the interdependence among the Turkish stock market and four major stock markets (US, UK, Germany, France) using daily closing index data for the period between January 1997 and June 2002. Results of the tests showed that the French and German stock markets have significant impacts on the Turkish stock market. The European and US stock markets influence each other in the long-run and short-run. US is the most influential market among the four developed markets. Developed markets almost move together. Therefore, International portfolio diversification among these national markets will not greatly reduce the portfolio risk.en_US
dc.description.degreeM.B.Aen_US
dc.description.statementofresponsibilityDemirtaş, İsmailen_US
dc.format.extentviii, 73 leaves, graphics and tablesen_US
dc.identifier.itemidBILKUTUPB067720
dc.identifier.urihttp://hdl.handle.net/11693/29204
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCointegrationen_US
dc.subjectintegrationen_US
dc.subjectIstanbul Stock Exchangeen_US
dc.subjectdeveloped marketsen_US
dc.subject.lccHG5706.5.I88 D46 2002en_US
dc.subject.lcshStock exchanges Turkey.en_US
dc.titleLong-run and short-run links among the Turkish stock market and developed marketsen_US
dc.typeThesisen_US

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