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dc.contributor.authorAcaravci , Songül Kakilli
dc.contributor.authorAcaravci, Ali
dc.contributor.authorÖztürk, İlhan
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:25:47Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:25:47Z
dc.date.issued2011
dc.identifier.issn0424-267X
dc.identifier.urihttps://hdl.handle.net/20.500.12507/443
dc.description.abstractThis study examines the long-run and causal relationships between stock market prices and consumer prices in Turkey. The bounds testing approach of cointegration is employed to investigate this relation by using quarterly data for 1987-2008 period. The bounds F-test for cointegration test yields evidence of a long-run relationship between stock market returns and inflation at 1% significance level. The study also explores the causal relationship between these variables in terms of the three error-correction based Granger causality models. The empirical results are as follows: i) The estimated long-run coefficient of the inflation is about unity and positive. ii) Any deviation from the long-run equilibrium between stock market returns and inflation is corrected about 32% for each period. iii) There is a strong evidence of unidirectional causality running from inflation to stock market returns. The overall results support the generalized Fisher hypothesis which implies that stocks offer a hedge against inflation.en_US
dc.language.isoengen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectARDL Cointegrationen_US
dc.subjectCausalityen_US
dc.subjectİnflationen_US
dc.subjectStock Market Returnsen_US
dc.subjectTurkeyen_US
dc.titleStock returns and inflation nexus in Turkey: Evidence from ARDL bounds testing approachen_US
dc.typearticleen_US
dc.relation.journalEconomic Computation and Economic Cybernetics Studies and Researchen_US
dc.contributor.departmentMeslek Yüksekokuluen_US
dc.identifier.volume3en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US


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