Macroeconomic Variables and Stock Market: Evidence from Turkey

The aim of this study by applying time series analysis, is to provide an empirical analysis and elucidate the relationship between the whole Turkish stock price index and selected macroeconomic variables namely: index of industrial production (IIP) as a proxy of economic activity, Short-term interest rate (SINT), money supply (M2) and exchange rate (EXC). For a wiser time span from Jan 2002 to Dec 2013; which witnessed a new monetary policy during the restructuring period (2002-2007), and the world crisis.

Autorentext

Ahmad Abu Alrub is a Ph.D student in Business Administration at Cyprus International University, TRNC. He was a tutorial assistant in Department of Banking and Finance at Near East University. At present, he is a Research Assistant at Cyprus International University. His main research interests are Asset pricing and international finance (FDI).