An İnvestigation on the Relationship Between Istanbul Stock Exchange (BIST) and The Stock Exchanges of BRICS Countries
Journal Title: Journal of the Human and Social Science Researches - Year 2016, Vol 5, Issue 3
Abstract
Some of the countries that shows strong economic performance in last decade are Brazil, Russia, India, China and South Africa. These countries have began to called as a different name by managing to outstrip onto the performance of developed economies and the other developing countries : BRICS. The aim of this study is to investigate of the relations of BIST and BRICS countries' Stock Exchange Markets in the long term. The relationship between BIST and BRICS markets is analyzed by using daily data over the period 03.01.2008 – 21.01.2015. ARCH and GARCH models with varying conditional variance of non-linear models are used to analyze the long-run relationship between variables. In conclusion; BIST is found to be associated with the BRICS countries’. In recent term , the relationship is observed mostly with India and South Africa. In addition, according to recent data, Turkey is positively differentiated from other markets except India.
Authors and Affiliations
Mehmet ŞİMŞEK*| Şube Müdürü, Kuveyt Türk Katılım Bankası A.Ş. mehmetsimsek@hotmail.com
Keywords
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