1. DOLAR ENDEKSİ ULUSLARARASI BİR FİNANSAL GÖSTERGE OLABİLİR Mİ? DÜNYADA ÖNEMLİ BORSA ENDEKSLERİ ÜZERİNDE AMPİRİK İNCELEME.
- Author
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KÖSE, Yaşar and YILMAZ, Emre
- Subjects
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U.S. dollar , *GRANGER causality test , *CAPITAL market , *ECONOMIC indicators , *STANDARD & Poor's 500 Index , *EURO - Abstract
In this study, it is aimed to determine the relationships and interactions between the Dollar Index and the Major World Indices (BIST 100, DAX, Dow Jones, S&P 500, Nikkei 225, FTSE 100, Euro Stoxx 50) and whether the Dollar Index can be an international financial indicator. Relationships between seven major world indices and dollar indices examined in the study were examined by granger causality test; While there is no causality relationship between the BIST 100, Dow Jones, and S&P 500 indices towards the Dollar Index, a one-way causality relation has been determined from the Dollar Index to these indices. A bidirectional and reciprocal causality relationship was determined between the DAX, Euro Stoxx 50, FTSE 100 and Nikkei 225 indices with the Dollar Index. It is considered that the findings obtained are mostly compatible with the literature. The Dollar Index, which was created in 1973 and has been used for about 50 years and covers a proportional composition of other important currencies, mainly the US Dollar, is considered to be an important financial and economic indicator today due to the close causality relations and strong correlations between them and the Major World Indices. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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