Macroeconomic Variables Affecting Bist30 Index Value in Turkey

Ozge Korkmaz (), Esref Basci and SuleymanSerdar Karaca ()
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Ozge Korkmaz: Bayburt University, Faculty of Economics and Administrative Science, Department of Economics
SuleymanSerdar Karaca: Gaziosmanpasa University, Faculty of Economics and Administrative Science, Department of Business Administration

International Conference on Economic Sciences and Business Administration, 2016, vol. 3, issue 1, 201-207

Abstract: In finance literature, main financial stock indices are important to determine country’s financial development and it’s behavior against the effect of macro-economic conditions. These conditions can listed as interest rate, inflation rate, money supply, exchange rate, industrial production index, and etc. In changing world economy, macro economic conditions can affect to the financial stability and capital markets. Some economies have a financial vulnerability, and it is important to measure for the affect on the economy. It can be explained that is seems to impossible to determine financial vulnerability with only one variable. It need to support other variable to evaluate how is effect on the economy. In this study we examined impact of macro-economic variables on ISE 30 Index returns in Turkey. We prefer to use ISE 30 Index to represent stock indices in Turkey. We analyzed regression model with ISE 30 Return Index as a depended variable and some macro-economic variables as independent variables between 2005 and 2015. We found two variables are strongly related with BIST 30 Index both exchange rate and inflation rate in negative way.

Keywords: Macro-economic Variables; ISE (BÄ°ST) 30 Index; Financial Vulnerability (search for similar items in EconPapers)
JEL-codes: E44 G10 G17 (search for similar items in EconPapers)
Date: 2016
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