Macroeconomic Determinants of Stock Market Fluctuations: The Case of BIST-100

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dc.contributor.authorDemir, C
dc.date.accessioned2024-07-18T11:40:11Z
dc.date.available2024-07-18T11:40:11Z
dc.description.abstractThe purpose of this study is to analyze the impacts of some prominent macroeconomic factors on the Turkish Stock Market index, BIST-100 (Borsa Istanbul-100). For centuries, and mostly since the 20th century, stock markets are at the heart of economies. In our era, the largest economic crises arise from the stock market instabilities and thus, the stock markets are the focus of interest of the economy. Economists, investors, and policymakers try to predict the tendency of share prices, which substantially depend on foreign and domestic macroeconomic factors. Within this purpose, this study tries to investigate the impact of some selected macroeconomic factors on BIST-100 index over the 2003Q1-2017Q4 period. The findings obtained from the quarterly data via the ARDL Bounds Test suggest that economic growth, the relative value of the domestic currency, portfolio investments and foreign direct investments raise the stock market index while interest rate and crude oil prices negatively affect it. The results briefly reveal that the Istanbul Stock Exchange Market needs stronger domestic currency, higher international capital inflows, and lower energy and investment costs.
dc.identifier.issn2227-7099
dc.identifier.urihttp://akademikarsiv.cbu.edu.tr:4000/handle/123456789/2223
dc.language.isoEnglish
dc.publisherMDPI
dc.subjectFOREIGN DIRECT-INVESTMENT
dc.subjectTIME-SERIES
dc.subjectECONOMIC-GROWTH
dc.subjectUNIT-ROOT
dc.subjectCOINTEGRATION
dc.subjectVARIABLES
dc.subjectFLOWS
dc.subjectCAUSALITY
dc.subjectRETURNS
dc.subjectPRICES
dc.titleMacroeconomic Determinants of Stock Market Fluctuations: The Case of BIST-100
dc.typeArticle

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