Real macroeconomic variables and stock prices : evidence from Turkey

H. Aydın Okuyan

This paper investigates the relationship between reel macroeconomic variables and stock prices in Turkey. Consumption expenditures, industrial production index, employment level and fixed investments are used as indicators of real economic activity and consumption price index as an indicator of inflation. The ARDL bounds testing is applied to the long-run relationship between the variables. Our empirical evidence reveals the validation of Proxy hypothesis in case of Turkey.

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Year of publication:	2013
Authors:	Okuyan, H. Aydın
Published in:	Asian Journal of Empirical Research. - Karachi, Pakistan : [Verlag nicht ermittelbar], ISSN 2224-4425, ZDB-ID 2630864-2. - Vol. 3.2013, 6, p. 654-662
Subject:	Proxy hypothesis \| stock prices \| real macroeconomic Variables \| Turkey \| Türkei \| Börsenkurs \| Share price \| Inflation \| Wirkungsanalyse \| Impact assessment

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Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Notes:	Systemvoraussetzung: Acrobat Reader
Classification:	E44 - Financial Markets and the Macroeconomy ; G17 - Financial Forecasting ; E20 - Consumption, Saving, Production, Employment, and Investment. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009779190