Author/Authors :
ALBAYRAK, Ali Sait Recep Tayyip Erdoğan Üniversitesi - İktisadi ve İdari Bilimler Fakültesi, Turkey , ÖZTÜRK, Nurettin Ondokuz Mayıs Üniversitesi - İİBF, Turkey , TÜYLÜOĞLU, Şevket Abant İzzet Baysal Üniversitesi - İİBF, Turkey
Title Of Article :
ANALYZING THE IMPACT OF MACROECONOMIC INDICATORS AND CAPITAL FLOWS ON ISE-100 INDEX
Abstract :
Stock prices are affected by many variables such as capital flows and large number of macroeconomic indicators. Capital flows are most helpful when the magnitude of those flows is steady and stable. Theoretically, the international capital flows such as foreign direct and portfolio investment has contribution to influence national economic performance positively. This study attempts to explain the effects of macroeconomic variables such as interest rates (MVFO), US dollar parity (DLAK), gold prices (ALTN) and capital flows such as foreign direct investment (DYYT), foreign portfolio investment (PRTY) on ISE-100 index using the 370 weekly time series data between 07.01.2005 to 03.02.2012. The empirical results of Prais-Winston Regression Analysis show that US dollar parity (DLAK), gold prices (ALTN) and foreign portfolio investment (PRTY) play unambiguous role on ISE-110 index.
NaturalLanguageKeyword :
ISE , Capital Flows , Macroeconomic Indicators , Prais , Winston Regression Analysis
JournalTitle :
The International Journal Of Economic and Social Research
