Abstract
The main objective of this study is to determine and test the effects of macroeconomic factors on the prices of the Manufacturing and Financial sector in BIST100. In addition to the determination of relations, it is aimed to determine whether these relations are mutual. In this study, monthly data covering Granger Causality Test and 2007: 01-2018: 11 period are used. Stock prices in manufacturing and financial sectors in BIST100 as dependent variables, gold prices as independent variables, USD rate, Euro rate, interest rate, export figures, unemployment rate, capacity utilization rate, crude oil prices, industrial production index, consumer confidence index and consumer price index are used. According to Granger causality test results, a one-way relationship was found between Euro exchange rate and financial sector index. It is determined that there is a bi-directional relationship between CPI variable and financial sector index. From the financial sector index to the industrial production index and export amount, a one-way relationship was determined. In terms of the causality relationship in terms of the manufacturing sector, a one-way relationship has been found between the industrial production index and the manufacturing sector. In addition, a one-way causality relationship was obtained from the manufacturing sector to the export figures.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
