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Journals / Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 2026 / Cilt: 14 Sayı: 2

Analysis of the Relationship Between the Global Economic Policy Uncertainty (GEPU) Index and Bitcoin

Küresel Ekonomi Politika Belirsizliği (GEPU) Endeksi ile Bitcoin Arasındaki İlişkinin Analizi

Ethem Kılıç(BİNGÖL ÜNİVERSİTESİ, BİNGÖL SOSYAL BİLİMLER MESLEK YÜKSEKOKULU)0000-0002-6247-9024
Pages
343–355
Publication Date
2024-06-30
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the results of RALS-ADL and RALS-EG2 cointegration tests, it has been determined that there is a cointegration relationship between the GEPU index and bitcoin.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The main purpose of this study is to examine the effect of the global economic policy uncertainty (GEPU) index on bitcoin.
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Key Findings & Data:Data for the period August 2010 – March 2023 were used to reveal the relationship between the variables.
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Conclusion & Impact:According to the results of RALS-ADL and RALS-EG2 cointegration tests, it has been determined that there is a cointegration relationship between the GEPU index and bitcoin.
🔬Design:Modeling & Simulation
📍Scope:2010 Verileri
⚙️Variables:Küresel Ekonomi Politika Belirsizliği (GEPU) Endeksi · Bitcoin · RALS-ADL

Abstract

The main purpose of this study is to examine the effect of the global economic policy uncertainty (GEPU) index on bitcoin. Data for the period August 2010 – March 2023 were used to reveal the relationship between the variables. To explain the relationship between the global economic policy uncertainty (GEPU) index and bitcoin, RALS cointegration tests, which take into account the non-normal distribution, were used. It was determined that the variables became stationary at the I(1) level, and then RALS-ADL and RALS-EG2 tests were applied. According to the results of RALS-ADL and RALS-EG2 cointegration tests, it has been determined that there is a cointegration relationship between the GEPU index and bitcoin. According to the long-term coefficient of the model, it was determined that one percent increase in the GEPU index increased bitcoin by 0.092.

Özet

Bu çalışmanın temel amacı küresel ekonomi politika belirsizliği (GEPU) endeksinin bitcoin üzerindeki etkisini incelemektir. Değişkenler arasındaki ilişkiyi ortaya koymak için Ağustos 2010 – Mart 2023 dönemine ait veriler kullanılmıştır. Küresel ekonomi politika belirsizliği (GEPU) endeksi ile bitcoin arasındaki ilişkiyi açıklamak için normal dağılmama durumunu dikkate alan RALS eşbütünleşme testleri kullanılmıştır. Değişkenlerin I(1) düzeyinde durağanlaştığı saptanmış, daha sonra RALS-ADL ve RALS-EG2 testleri uygulanmıştır. RALS-ADL ve RALS-EG2 eşbütünleşme testleri sonuçlarına göre GEPU endeksi ile bitcoin arasında eşbütünleşme ilişki olduğu tespit edilmiştir. Modelin uzun dönem katsayısına göre GEPU endeksindeki yüzde bir birimlik artış bitcoini 0.092 oranında artırdığı saptanmıştır.

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Cite This Article

Kılıç, E. (2024). Analysis of the Relationship Between the Global Economic Policy Uncertainty (GEPU) Index and Bitcoin. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt: 14 Sayı: 2, 343–355. https://doi.org/10.18074/ckuiibfd.1297767

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