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  • 标题:STOCK MARKET AND INVESTMENT IN TURKEY: EVIDENCE FROM COINTEGRATION AND CAUSALITY TESTS
  • 作者:Feridun, Mete ; Sawhney, Bansi ; Jalil, Abdul
  • 期刊名称:Economic Research
  • 印刷版ISSN:1331-677X
  • 出版年度:2009
  • 卷号:22
  • 期号:4
  • 页码:17-29
  • 出版社:Juraj Dobrila University of Pula, Department of Economics and Tourism 'Dr. Mijo Mirkovic'
  • 摘要:The objective of this paper is to investigate the causal effect of business investments on stock returns in Turkey for the period following the liberalization of capital flows (1987:01-2006:03). According to results of the cointegration tests and error correction model (ECM) causality is found to run from stock returns to business investments and not vice versa.
  • 关键词:Granger-causality; investments; stock market;
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