In this study, the relationship between Borsa Istanbul 100 Index (BIST-100), Investor Risk Appetite Index (RISE), and macroeconomic indicators are tried to be determined using Autoregressive Distributed Lag (ARDL) Bounds Testing Approach with monthly data covering the periods 01/2011-08/2022. Inflation and interest rate are used as macroeconomic indicators. By taking into account the unit root test results related to the stationary conditions of the series, an econometric model is founded in which the BIST-100 was selected as a dependent variable, and a cointegration relationship was determined. In addition, the parameters of the models were estimated and evaluated. In the long and shortterm forecast results, it was determined that the BIST-100 index is positively related to inflation and the RISE index, and negatively related to the interest rate.
BIST-100 Investor Appetite Index (RISE) Inflation Rate Interest Rate Autoregressive Distributed Lag (ARDL) Bounds Test.
Primary Language | English |
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Subjects | Business Administration |
Journal Section | Articles |
Authors | |
Early Pub Date | August 3, 2022 |
Publication Date | December 31, 2022 |
Submission Date | October 12, 2022 |
Acceptance Date | November 14, 2022 |
Published in Issue | Year 2022 Volume: 7 Issue: 2 |
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.