Guest editor's introduction

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2005-01-01
Erlat, Güzin

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The Relationship Between Disaggregated Country Risk Ratings and Stock Market Movements: An ARDL Approach
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We examine the relationships between disaggregated country risk ratings and stock market movements in Turkey, using the autoregressive distributed lag approach. The long- and short-run relationships between stock market movements and political risk, financial risk, and economic risk components of country risk ratings are investigated. The presence of a long-run relationship between Turkey's risk ratings and stock market movements is confirmed. In the long run, Turkey's three economic, financial, and politic...
The nature of persistence in Turkish real exchange rates
Erlat, Haluk (Informa UK Limited, 2003-03-01)
The objective of this paper is to investigate the persistence in Turkish real exchange rates (RER) using unit root tests and autoregressive fractionally integrated moving average (ARFIMA) models. We consider two RERs, one in terms of the German DM and the other in terms of the US$. ne plots of these RERs (based on both wholesale price indices and consumer price indices)for the period 1984.01-2000.09 reveal that they contain multiple shifts in their deterministic terms, one of which may need to be treated as...
Dynamics of the trade balance - The Turkish J-curve
Akbostancı Özkazanç, Elif (Informa UK Limited, 2004-09-01)
The J-curve hypothesis suggests a specific pattern for the response of the trade balance to real exchange rate changes; a real depreciation initially worsens the trade balance, but through time the trade balance improves, and thus the response of the trade balance over time generates a tilted J-shape. This study investigates the existence of a J-curve in the Turkish data in the 1987-2000 period by using quarterly data. First, an error correction model is estimated to differentiate between the long-run equil...
A thermodynamical view on asset pricing
Gündüz, Güngör; Gunduz, Yalin (Elsevier BV, 2016-10-01)
The dynamics of stock market systems was analyzed from the stand point of viscoelasticity, i.e. conservative and nonconservative (or elastic and viscous) forces. Asset values were modeled as a geometric Brownian motion by generating random Wiener processes at different volatilities and drift conditions. Specifically, the relation between the return value and the Wiener noise was investigated. Using a scattering diagram, the asset values were placed into a 'potentiality-actuality' framework, and using Euclid...
Intraindustry trade and labor market adjustment in Turkey - Another piece of puzzling evidence?
Erlat, Güzin; Erlat, Haluk (Informa UK Limited, 2006-09-01)
After important policy changes in 1980, Turkey's trade expanded considerably. Although interindustry trade remained predominant, intraindustry trade (IIT) increased substantially. This paper investigates whether the increase in HT contributed to reducing adjustment costs due to trade expansion. We undertook an econometric approach and considered three-digit International Standard Industry Classification classified data. We used a model developed by Brulhart and Thorpe (2000)for Malaysia, both in static and ...
Citation Formats
G. Erlat, “Guest editor’s introduction,” EMERGING MARKETS FINANCE AND TRADE, pp. 3–5, 2005, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/63201.