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Macroeconomic Variables Affecting Bist30 Index Value in Turkey

Author

Listed:
  • Ozge KORKMAZ

    () (Bayburt University, Faculty of Economics and Administrative Science, Department of Economics)

  • Esref Savas BASCI

    () (Hitit University, Faculty of Economics and Administrative Science, Department of Banking and Finance)

  • SuleymanSerdar KARACA

    () (Gaziosmanpasa University, Faculty of Economics and Administrative Science, Department of Business Administration)

Abstract

In finance literature, main financial stock indices are important to determine country’s financial development and it’s behavior against the effect of macro-economic conditions. These conditions can listed as interest rate, inflation rate, money supply, exchange rate, industrial production index, and etc. In changing world economy, macro economic conditions can affect to the financial stability and capital markets. Some economies have a financial vulnerability, and it is important to measure for the affect on the economy. It can be explained that is seems to impossible to determine financial vulnerability with only one variable. It need to support other variable to evaluate how is effect on the economy. In this study we examined impact of macro-economic variables on ISE 30 Index returns in Turkey. We prefer to use ISE 30 Index to represent stock indices in Turkey. We analyzed regression model with ISE 30 Return Index as a depended variable and some macro-economic variables as independent variables between 2005 and 2015. We found two variables are strongly related with BIST 30 Index both exchange rate and inflation rate in negative way.

Suggested Citation

  • Ozge KORKMAZ & Esref Savas BASCI & SuleymanSerdar KARACA, 2016. "Macroeconomic Variables Affecting Bist30 Index Value in Turkey," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 3(1), pages 201-207, October.
  • Handle: RePEc:icb:wpaper:v:3:y:2016:i:1:201-207
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    More about this item

    Keywords

    Macro-economic Variables; ISE (BÄ°ST) 30 Index; Financial Vulnerability;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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