 Tripartite analysis across business cycles in Turkey: A multi-timescale inquiry of efficiency, volatility and integrationShaista Arshad, Syed Aun R. Rizvi and Mansor Ibrahim Borsa Istanbul Review, 2014, vol. 14, issue 4, 224-235 Abstract: In the current era of globalization, deregulation and liberalization of markets have led to financial integration amongst developing and developed countries. The sudden massive inflow of capital into developing country's stock markets begs the question of whether or not the markets are sufficiently efficient to handle the increasing integration of markets. Furthermore, the relationship between the integration and efficiency of stock markets tends to be of greater importance during economic downturns. Taking Turkey as a case study owing to its economic growth and importance in two successful blocs, i.e. the EU and the OIC, we attempt to analyse the linkages between stock market efficiency and integration during the different phases of the economy. The findings of our study provide an interesting insight into the relative improvement in volatility, efficiency and integration across business cycles, in a multi time scale analysis. Keywords: Islamic finance; Stock market efficiency; Multifractal (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bor:bistre:v:14:y:2014:i:4:p:224-235 Access Statistics for this article More articles in Borsa Istanbul Review from Research and Business Development Department, Borsa Istanbul Contact information at EDIRC. |
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