Bankacılık ve Finans Bölümü YayınKoleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/400

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Citation Count: Karadagli, E.C.; Donmez, M.G., "A Nonlinear Analysis of Weak Form Efficiency of Stock Index Futures Markets in Cce Emerging Economies", International Research Journal of Finance and Economics, Vol. 95, pp. 61-71, (2012).
A Nonlinear Analysis of Weak Form Efficiency of Stock Index Futures Markets in Cce Emerging Economies
(2012) Karadağlı, Ece Ceylan; 17735
Futures markets, through carrying considerable impact on the spot market, serving such functions as price discovery and risk reduction for all market participants, and providing beneficial effects on the economic growth process especially in emerging countries, appear to be a vital part of a well-functioning economy. Accordingly, this paper examines weak form futures market efficiency of five CEE Emerging Economies. For this purpose, besides the traditional unit root tests, to account for nonlinearities in financial data, we employ nonlinear unit root tests along with their panel extensions. The results suggest that although the examined markets are efficient in linear sense, inefficiencies prevail when we account for nonlinearities. These findings imply that the examined countries, especially Poland and Turkey, need to take precautions to overcome the obstacles in their prevailing market structures, especially inherited in the sources of nonlinearity in the financial data, and to ensure a more efficient futures markets
Citation Count: Tunç, C., Solakoğlu, M.N., Babuşcu, Ş., Hazar, A. (2018). Exchange rate risk and international trade: The role of third country effect. Economics Letters, 167, 152-155. http://dx.doi.org/ 10.1016/j.econlet.2018.03.030
Exchange rate risk and international trade: The role of third country effect
(Elsevier Science S A, 2018) Tunç, Cengiz; Solakoğlu, Nihat; Babuşcu, Şenol; Hazar, Adalet; 265921; 161529; 117425; 219046
Using the recently launched Exporter Dynamics Database of the World Bank, this paper empirically investigates the role of external exchange rate risk (third-country effect) on trade flows between countries. We find a strong positive influence of external exchange rate risk on exports to a specific destination. However, the effect is more observable in advanced destination countries, countries with low bilateral exchange rate volatility in comparison to external exchange rate volatility, and countries in which export is concentrated among a small number of firms.

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