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Foreign Capital Inflows and Stock Market Development in Turkey

In: New Trends in Finance and Accounting

Author

Listed:
  • Yilmaz Bayar

    (Usak University)

Abstract

Cross-country capital flows have increased substantially due to accelerating globalization as of 1990s, and these increases have important economic implications for all the countries. This study investigates the causal relationship among foreign capital inflows including foreign direct investment, foreign portfolio flows, remittances, and stock market development in Turkey during the period January 1992–December 2015 using Hacker and Hatemi-J (Appl Econ 38(13):1489–1500, 2006) bootstrap causality test. We found that there was unidirectional causality from foreign direct investment inflows to stock market development and unidirectional causality from stock market development to foreign portfolio investments.

Suggested Citation

  • Yilmaz Bayar, 2017. "Foreign Capital Inflows and Stock Market Development in Turkey," Springer Proceedings in Business and Economics, in: David Procházka (ed.), New Trends in Finance and Accounting, chapter 0, pages 71-81, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-49559-0_7
    DOI: 10.1007/978-3-319-49559-0_7
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    Cited by:

    1. Imran Khan & Darshita Fulara Gunwant, 2023. "Is the remittance inflow to the Turkish economy sustainable? A glimpse of the future through the lens of the past," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 25(1), pages 34-51, June.
    2. Agus Dwi Nugroho & Priya Rani Bhagat & Robert Magda & Zoltan Lakner, 2021. "The impacts of economic globalization on agricultural value added in developing countries," PLOS ONE, Public Library of Science, vol. 16(11), pages 1-23, November.

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