St Andrews Research Repository

St Andrews University Home
View Item 
  •   St Andrews Research Repository
  • University of St Andrews Research
  • University of St Andrews Research
  • University of St Andrews Research
  • View Item
  •   St Andrews Research Repository
  • University of St Andrews Research
  • University of St Andrews Research
  • University of St Andrews Research
  • View Item
  •   St Andrews Research Repository
  • University of St Andrews Research
  • University of St Andrews Research
  • University of St Andrews Research
  • View Item
  • Login
JavaScript is disabled for your browser. Some features of this site may not work without it.

Capital flows under global uncertainties : evidence from Turkey

Thumbnail
View/Open
_epni_2020_BSR_Capitalflows_CC.pdf (1.557Mb)
Date
06/2021
Author
Çepni, Oğuzhan
Çolak, Mehmet Selman
Hacıhasanoğlu, Yavuz Selim
Yılmaz, Muhammed Hasan
Keywords
Capital flows
Global economic policy uncertainty
Time-varying multivariate causality
Trade policy uncertainty in the United States
HB Economic Theory
3rd-DAS
NIS
Metadata
Show full item record
Altmetrics Handle Statistics
Altmetrics DOI Statistics
Abstract
This paper investigates the effects of global economic uncertainty and trade policy–related uncertainty in the US in predicting the bond and equity flows to Turkey during the period from January 2008 to November 2019. We use the time-varying Granger-causality test to assess the ability of economic policy uncertainty and capital flows to forecast Turkish equity and bond markets using fund-level data on bond and equity inflows compiled by the Emerging Portfolio Fund Research (EPFR) global database. Although we found no evidence of causality in the standard Granger-causality test, the time-varying robust causality test detects significant episodes that imply a causal relationship between capital flows and uncertainty indexes, especially during the global financial crisis and the election of the Trump administration.
Citation
Çepni , O , Çolak , M S , Hacıhasanoğlu , Y S & Yılmaz , M H 2021 , ' Capital flows under global uncertainties : evidence from Turkey ' , Borsa Istanbul Review , vol. 21 , no. 2 , pp. 175-185 . https://doi.org/10.1016/j.bir.2020.09.009
Publication
Borsa Istanbul Review
Status
Peer reviewed
DOI
https://doi.org/10.1016/j.bir.2020.09.009
ISSN
2214-8450
Type
Journal article
Rights
Copyright © 2020, Borsa Istanbul Anonim Sirketi. Production and hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
Collections
  • University of St Andrews Research
URI
http://hdl.handle.net/10023/23525

Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

Advanced Search

Browse

All of RepositoryCommunities & CollectionsBy Issue DateNamesTitlesSubjectsClassificationTypeFunderThis CollectionBy Issue DateNamesTitlesSubjectsClassificationTypeFunder

My Account

Login

Open Access

To find out how you can benefit from open access to research, see our library web pages and Open Access blog. For open access help contact: openaccess@st-andrews.ac.uk.

Accessibility

Read our Accessibility statement.

How to submit research papers

The full text of research papers can be submitted to the repository via Pure, the University's research information system. For help see our guide: How to deposit in Pure.

Electronic thesis deposit

Help with deposit.

Repository help

For repository help contact: Digital-Repository@st-andrews.ac.uk.

Give Feedback

Cookie policy

This site may use cookies. Please see Terms and Conditions.

Usage statistics

COUNTER-compliant statistics on downloads from the repository are available from the IRUS-UK Service. Contact us for information.

© University of St Andrews Library

University of St Andrews is a charity registered in Scotland, No SC013532.

  • Facebook
  • Twitter