出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：The purpose of this study is to investigate the interaction between spot Turkish Lira-US Dollar exchange rate and Turkish Lira-US Dollar futures contracts traded in Turkish Derivatives Exchanges.Cointegration test are used and an error correction model is developed in order to examine the causal relationship.The results indicated that there is a long run stable relationship between foreign currency spot and futures market.Moreover,there is a two-way causality between them both in the short run and the long run.
