TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES
Oil and natural gas which are the most used energy sources are consumed as raw materials in many fields. The development of technology and population increase makes these energy sources important for financial markets and the overall economy. Turkey, energy importing and developing country, may be...
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Mehmet Akif Ersoy University
2021-03-01
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| Series: | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
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| Online Access: | https://dergipark.org.tr/en/download/article-file/1381401 |
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| author | Mehmet Eryiğit Faruk Temel |
| author_facet | Mehmet Eryiğit Faruk Temel |
| author_sort | Mehmet Eryiğit |
| collection | DOAJ |
| description | Oil and natural gas which are the most used energy sources are consumed as raw materials in many fields. The development of technology and population increase makes these energy sources important for financial markets and the overall economy. Turkey, energy importing and developing country, may be influenced intensely by changes in energy prices. In this study, long-term and short-term relationships between energy prices and Borsa Istanbul indices using daily data between 01.01.2007-31.10.2017 were examined by Johansen cointegration, vector autoregression (VAR), Granger causality tests, and impulse-response functions. The long-term relationship between energy prices and Borsa Istanbul indices was not found. On the other hand, it was concluded that energy prices had positive impacts on Borsa Istanbul indices in the short-term. Furthermore, oil prices Granger cause natural gas prices, Food Beverage, and Chemical Petrol Plastic indices. |
| format | Article |
| id | doaj-art-752534c89c0b4c94acddc88332eef1ae |
| institution | Kabale University |
| issn | 2149-1658 |
| language | English |
| publishDate | 2021-03-01 |
| publisher | Mehmet Akif Ersoy University |
| record_format | Article |
| series | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
| spelling | doaj-art-752534c89c0b4c94acddc88332eef1ae2025-01-27T14:07:40ZengMehmet Akif Ersoy UniversityMehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi2149-16582021-03-018137039810.30798/makuiibf.821611273TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICESMehmet Eryiğit0https://orcid.org/0000-0002-6270-966XFaruk Temel1https://orcid.org/0000-0003-3359-7870BOLU ABANT İZZET BAYSAL ÜNİVERSİTESİBURDUR MEHMET AKİF ERSOY ÜNİVERSİTESİOil and natural gas which are the most used energy sources are consumed as raw materials in many fields. The development of technology and population increase makes these energy sources important for financial markets and the overall economy. Turkey, energy importing and developing country, may be influenced intensely by changes in energy prices. In this study, long-term and short-term relationships between energy prices and Borsa Istanbul indices using daily data between 01.01.2007-31.10.2017 were examined by Johansen cointegration, vector autoregression (VAR), Granger causality tests, and impulse-response functions. The long-term relationship between energy prices and Borsa Istanbul indices was not found. On the other hand, it was concluded that energy prices had positive impacts on Borsa Istanbul indices in the short-term. Furthermore, oil prices Granger cause natural gas prices, Food Beverage, and Chemical Petrol Plastic indices.https://dergipark.org.tr/en/download/article-file/1381401enerji fiyatlarıborsa i̇stanbulsektör endekslerienergy pricesborsa istanbulsector indices |
| spellingShingle | Mehmet Eryiğit Faruk Temel TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi enerji fiyatları borsa i̇stanbul sektör endeksleri energy prices borsa istanbul sector indices |
| title | TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES |
| title_full | TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES |
| title_fullStr | TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES |
| title_full_unstemmed | TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES |
| title_short | TESTING THE RELATIONSHIPS BETWEEN ENERGY PRICES AND THE BORSA ISTANBUL INDICES |
| title_sort | testing the relationships between energy prices and the borsa istanbul indices |
| topic | enerji fiyatları borsa i̇stanbul sektör endeksleri energy prices borsa istanbul sector indices |
| url | https://dergipark.org.tr/en/download/article-file/1381401 |
| work_keys_str_mv | AT mehmeteryigit testingtherelationshipsbetweenenergypricesandtheborsaistanbulindices AT faruktemel testingtherelationshipsbetweenenergypricesandtheborsaistanbulindices |