EFFECTS ON STOCK EXCHANGE OF IMPORTS AND EXPORTS IN TURKEY

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In this study, it was investigated the relations between Borsa İstanbul (BIST) 100 index, which is one of the two important elements of globalization in the economy, and foreign trade (importation and exportation) of country which is the other important element. In the study, long-term relationships between the series were analyzed by DOLS method and it was observed that the increases in interest rates decreased BIST100 index, the increases in exports increased BIST100 index and the effects of the increases in imports on BIST100 index varied. Short-term analyzes were performed by DOLS method and it was determined that the effects of interest rates on the stock market were not clear in the short term, that exports increased BIST100 in the short term and imports also affected the BIST100 in the short term. The causality relationships between the series were investigated by the Granger (1969) test, while a one-way and very strong causality relationship was determined from interest to exchange, no causality relation from foreign trade to stock exchange could be determined.

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Globalization , Import , Export , Stock Exchange

Abant Sosyal Bilimler Dergisi

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Abant Sosyal Bilimler Dergisi