The determinants of portfolio investments to Turkey : from 1989 to 2008

Download

index.pdf

Date

2009

Author

Günayer, Elif

Metadata

Show full item record

Item Usage Stats

40
views

24
downloads

This thesis analyzes the factors that determine the portfolio investments to Turkey in the period from 1989:04 to 2008:12. The factors that are examined are budget balance, current account balance, nominal exchange rate between the Turkish Lira and the US dollar, Turkish domestic interest rate, US 3-months Treasury Bill rate, annual inflation rate in Turkey and ISE 100 Index. A Vector Autoregressive Model is used for the purpose of examining the impacts of these variables on the level of portfolio investments to Turkey. The results of the model show that the portfolio investment in Turkey was affected positively by domestic interest rates and negatively by ISE 100 Index in the period before 2001. On the other hand, it is affected positively by exchange rate and US interest rate in the post-crisis period. It is also found that current account deficit affect portfolio investments negatively.

Subject Keywords

Business administration.

URI

http://etd.lib.metu.edu.tr/upload/3/12611284/index.pdf
https://hdl.handle.net/11511/19165

Collections

Graduate School of Social Sciences, Thesis

Suggestions

OpenMETU
Core

The effects of the inflation targeting regime on the İstanbul stock exchange Bölükbaşı, Firuze; Danışoğlu, Seza; Department of Business Administration (2009) The primary purpose of this study is to test the effects of inflation targeting in Turkey in terms of providing stability in the financial system by lowering the volatility in the Turkish stock market. Although there are many factors other than monetary policy which can affect stock market volatility, this study examines whether the volatility due to monetary policy can be reduced by increasing the accuracy of investors’ expectations about the central bank’s future actions. In the first part, a “Volatility ...
The effects of transition to modern banking and the 2008 global financial crisis on the efficiency of the Turkish banking sector Sağ, Mustafa Onur; Dayıoğlu Tayfur, Meltem; Department of Economics (2010) This thesis measures the effects of transformation of Turkish banks from a “traditional” one to a “modern” one over the period 2002-2009 and 2008 global financial crisis on efficiency of Turkish banks. Malmquist Total Factor Productivity Index is constructed using data envelopment analysis to measure the efficiency change in Turkish banking sector. The paper also analyzes the sensitivity of efficiency measures to different descriptions of inputs and outputs by employing two different approaches to describe ...
Business failure predictions in İstanbul stock exchange Tekel, Onur; Sarı, Ramazan; Department of Business Administration (2009) This study aims to develop business failure prediction models using the data of selected firms from ISE markets. The sample data comprise ten selected financial ratios for 27 non-going concerns (failed businesses) and paired 27 going concerns. Two non-parametric classification methods are used in the study: Artificial Neural Networks (ANN) and Decision Trees. The classification results show that there is equilibrium in the classification of the training samples by the models, but ANN model outperform the de...
Determinants of managerial responses to environmental issues in small and medium enterprises in Turkey Ünver, Tayyar Can; Aşcıgil, Semra Feriha; Department of Business Administration (2008) The main purpose of this study is to identify the major driving factors that determine the environmental commitments and certification ownership of small and medium sized enterprises (SMEs) in Turkey. Turkey has been undergoing major economic and environmental developments since 1990ies. SMEs play a significant role in the Turkish economy, constituting 99.8% of total enterprises in number. Even though most managers overlook their firms’ particular impacts, SMEs’ cumulative effect on natural environment is s...
Role of investment shocks in explaining business cycles in Turkey Yüksel, Canan; Voyvoda, Ebru; Department of Economics (2012) This thesis aims to understand the sources of business cycles observed in Turkish economy. In particular the thesis investigates the role of investment shocks in explaining fluctuations in output. For this purpose a small open economy DSGE model is estimated on Turkish data for 2002-2011 period by Bayesian methods. Variance decomposition analysis shows that permanent technology shock is the key driving force of business cycles in Turkish economy and the role of investment shock is less spelled.

Citation Formats

E. Günayer, “The determinants of portfolio investments to Turkey : from 1989 to 2008,” M.B.A. - Master of Business Administration, Middle East Technical University, 2009.