An Empirical Analysis of the Relationship Between Macroeconomic Indicators and the BIST Energy Index

Mustafa Ünlü

Makale detayları

An Empirical Analysis of the Relationship Between Macroeconomic Indicators and the BIST Energy Index

Yazarlar:

Mustafa Ünlü

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.25 Issue 45, pp.984-997

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001306777

pISSN:

2147-7833

Anahtar kelimeler:

Özet:

 Macroeconomic factors have a significant impact on financial markets. In spite of this, these macroeconomic variables can be classified as macroeconomic factors both on a global and a national level. It is believed that global macroeconomic factors are more effective in the energy sector since it is a sector that affects the entire world. This study examines the industrial production index, brent oil prices, credit default swaps, deposit interest rates, and TLUSD currency rate based on changes that occurred in Turkey in 2018 and the pandemic process that followed. In order to analyze the data, the autoregressive distributed lag model is considered to have an influence on the energy index, which is composed of energy companies listed on Borsa Istanbul. Based on the findings TLUSD currency rate had a positive impact on the index value, while credit default swaps had a negative impact, while deposit interest rates, brent oil prices and industrial production index did not have a significant impact.

 Macroeconomic factors have a significant impact on financial markets. In spite of this, these macroeconomic variables can be classified as macroeconomic factors both on a global and a national level. It is believed that global macroeconomic factors are more effective in the energy sector since it is a sector that affects the entire world. This study examines the industrial production index, brent oil prices, credit default swaps, deposit interest rates, and TLUSD currency rate based on changes that occurred in Turkey in 2018 and the pandemic process that followed. In order to analyze the data, the autoregressive distributed lag model is considered to have an influence on the energy index, which is composed of energy companies listed on Borsa Istanbul. Based on the findings TLUSD currency rate had a positive impact on the index value, while credit default swaps had a negative impact, while deposit interest rates, brent oil prices and industrial production index did not have a significant impact.

 Macroeconomic factors have a significant impact on financial markets. In spite of this, these macroeconomic variables can be classified as macroeconomic factors both on a global and a national level. It is believed that global macroeconomic factors are more effective in the energy sector since it is a sector that affects the entire world. This study examines the industrial production index, brent oil prices, credit default swaps, deposit interest rates, and TLUSD currency rate based on changes that occurred in Turkey in 2018 and the pandemic process that followed. In order to analyze the data, the autoregressive distributed lag model is considered to have an influence on the energy index, which is composed of energy companies listed on Borsa Istanbul. Based on the findings TLUSD currency rate had a positive impact on the index value, while credit default swaps had a negative impact, while deposit interest rates, brent oil prices and industrial production index did not have a significant impact.

 Finansal piyasalar üzerinde makroekonomik faktörlerin etkili olduğu bilinmektedir. Ancak, bu makroekonomik değişkenler kendi içerisinde küresel ve ulusal makroekonomik faktörler olarak sınıflandırılabilir. Enerji sektörü, tüm dünyayı etkileyen bir sektör olması nedeniyle küresel makroekonomik faktörlerin daha etkili olduğu düşünülebilir. Bu çalışma kapsamında 2018 yılında Türkiyede gerçekleşen sistem değişikliği ve ardından yaşanan pandemi süreci dikkate alınarak, Borsa İstanbulda işlem gören enerji şirketlerinin yer aldığı enerji endeksi üzerinde etkisi olduğu düşünülen sanayi üretim endeksi, brent petrol fiyatları, kredi temerrüt takasları, mevduat faizi oranları ve TLDolar kuru verileri otoregresif dağıtılmış gecikme modeli yardımıyla incelenmiştir. Elde edilen bulgulara göre TLDolar kurunun endeks değeri üzerinde pozitif, kredi temerrüt takasının ise negatif etkisinin olduğu; mevduat faizi oranları, brent petrol fiyatları ve üretim endeksi değerinin anlamlı bir etkisinin olmadığı sonucuna ulaşılmıştır.

Makale detayları

An Empirical Analysis of the Relationship Between Macroeconomic Indicators and the BIST Energy Index

Yazarlar:

Mustafa Ünlü

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.25 Issue 45, pp.984-997

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001306777

pISSN:

2147-7833

BIST Electricity Index

ARDL

Macroeconomic VariablesBİST Enerji Endeksi

ARDL

Makroekonomik Değişkenler

Sayı

Makale detayları

An Empirical Analysis of the Relationship Between Macroeconomic Indicators and the BIST Energy Index

Yazarlar: Mustafa Ünlü

Yayıncı: Karamanoglu Mehmetbey University

Ana Başlıklar: Ekonometrik ve İstatistiksel Yöntemler

Dergi: Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.25 Issue 45, pp.984-997

Belge Tipi: Makale

Yayın Tarihi: 12/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001306777

pISSN: 2147-7833

BIST Electricity Index

ARDL

Macroeconomic VariablesBİST Enerji Endeksi

ARDL

Makroekonomik Değişkenler

Sayı

Yazarlar:

Mustafa Ünlü

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.25 Issue 45, pp.984-997

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001306777

pISSN:

2147-7833