We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND STOCK RETURNS: AN EXAMPLE FROM TURKEY.
- Authors
ŞENTÜRK, Mehmet; SAYAR ÖZKAN, Gökcen; AKBAŞ, Yusuf Ekrem
- Abstract
Financial development is one of the most important determinants of the economic development. Financial developments in Turkey began in the early 1980s and still have continued. During this period, it has survived a severe interaction between financial development and economic growth. In this study, the causality relationship between stock returns and economic growth in Turkey it was analysed over the period 1998Q2-2014Q2. In this context; firstly, Bootstrapped Toda-Yamamoto and Frequency Domain causality tests were applied in order to understand the causality relationship between the two variables. As a result of the Bootstrapped Toda-Yamamoto causality test results, there is no relation of causality between the variables, but according to Frequency Domain causality test stock returns cause the economic growth in short term and economic growth cause stock returns in medium term.
- Subjects
TURKEY; ECONOMIC development; STATISTICAL bootstrapping; RATE of return; MATHEMATICAL variables
- Publication
Dogus University Journal / Doğuş Üniversitesi Dergisi, 2014, Vol 15, Issue 2, p155
- ISSN
1302-6739
- Publication type
Article