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Journals / Maliye Dergisi / 2010 / Sayı: 159

The analysing capital market integration with parametric and nonparametric cointegration tests among BRIC countries and Turkey

BRIC ülkeleri ve Türkiye arasındaki sermaye piyasaları entegrasyonunun parametrik ve parametrik olmayan eşbütünleşme testleri ile analizi

ŞEREF BOZOKLU
M.İpek SAYDAM
Pages
416–431
DOI
—
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AI Summary & Key Takeaways

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

As a result of the study determined that capital markets of these countries are integrated and they do not have long-term profit opportunities.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study is to analyze what proportion are integrated to each other the Brazilian, China, India, Russia and Turkey capital markets.
📊
Key Findings & Data:In this respect, the parametric and nonparametric cointegration tests developed by Johansen (1988, 1991 and 1994) and Bierens (1997 and 2004) are applied.
💡
Conclusion & Impact:As a result of the study determined that capital markets of these countries are integrated and they do not have long-term profit opportunities.
🔬Design:Research Article
📍Scope:2004 Verileri
⚙️Variables:Domain Parameters

Abstract

The aim of this study is to analyze what proportion are integrated to each other the Brazilian, China, India, Russia and Turkey capital markets. In this respect, the parametric and nonparametric cointegration tests developed by Johansen (1988, 1991 and 1994) and Bierens (1997 and 2004) are applied. As a result of the study determined that capital markets of these countries are integrated and they do not have long-term profit opportunities.

Özet

Bu çalışmanın amacı Brezilya, Çin, Hindistan, Rusya ve Türkiye sermaye piyasalarının birbirlerine ne oranda entegre olduğunu analiz etmektir. Bu doğrultuda Johansen (1988, 1991 ve 1994) ve Bierens (1997 ve 2004) tarafından geliştirilen parametrik ve parametrik olmayan eşbütünleşme testleri uygulanmıştır. Çalışmanın sonucunda bu ülkelerin sermaye piyasalarının entegre olduğu ve uzun dönem kâr imkânının olmadığı belirlenmiştir.

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Cite This Article

BOZOKLU, Ş., SAYDAM, M. (2010). The analysing capital market integration with parametric and nonparametric cointegration tests among BRIC countries and Turkey. Maliye Dergisi, Sayı: 159, 416–431. https://ajindex.com/articles/79099

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