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The effect of technological developments on the stock market: evidence from emerging market

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  • Mehmet Sinan Celik
  • Mutlu Basaran Ozturk
  • Ozkan Haykir

Abstract

This study investigates the effect of High-Frequency Trading on stock liquidity and volatility in Borsa Istanbul, Turkey which is one of the largest emerging markets where high-frequency trading is newly developed. We employ a fixed effect panel estimation model with Driscoll and Kraay correction between January 2016 and December 2020. The finding shows that an increase in high-frequency trading increases the liquidity and volatility. Moreover, the results are similar before the pandemic period and rising market period, whereas the impact of high-frequency trading on liquidity disappears during the pandemic period.

Suggested Citation

  • Mehmet Sinan Celik & Mutlu Basaran Ozturk & Ozkan Haykir, 2024. "The effect of technological developments on the stock market: evidence from emerging market," Applied Economics Letters, Taylor & Francis Journals, vol. 31(2), pages 118-121, January.
    • Handle: RePEc:taf:apeclt:v:31:y:2024:i:2:p:118-121
    DOI: 10.1080/13504851.2022.2128172
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