Stock market and investment in Turkey: Evidence from cointegration and causality tests
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Date
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Economics and Tourism 'Dr. Mijo Mirkovic' michael.wagreich@univie.ac.at
Access Rights
info:eu-repo/semantics/openAccess
Abstract
The objective of this paper is to investigate the causal effect of business investments on stock returns in Turkey for the period following the liberalization of capital flows (1987:01-2006:03). According to results of the cointegration tests and error correction model (ECM) causality is found to run from stock returns to business investments and not vice versa.
Description
Keywords
Granger-causality, Investments, Stock market
Journal or Series
Economic Research-Ekonomska Istrazivanja
WoS Q Value
Scopus Q Value
Volume
22
Issue
4
