MACROECONOMIC INDICATORS AND LIQUIDITY: LONG AND SHORT RUN DYNAMIC EFFECTS ON THE TÜRKİYE STOCK EXCHANGE WITH THE ARDL APPROACH1
Küçük Resim Yok
Tarih
2025
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Kafkas University Iibf
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Stock market liquidity is a key indicator of market functionality, stability and investor sentiment. Furthermore, stock market liquidity serves as a crucial indicator for gauging the depth of liquidity and market dynamics in money and capital markets. In light of the pivotal role of stock market liquidity, this article seeks to examine the dynamic influence of select macroeconomic indicators pertaining to monetary, fiscal, and general economic outlook on stock market liquidity in both the long and short run. To this end, the symmetric ARDL method is employed. The ARDL findings indicate that interest rate, exchange rate, central government expenditures, oil, industrial production index, and consumer price index exert a discernible impact on stock market liquidity.
Açıklama
Anahtar Kelimeler
Macroeconomic indicators, trading volume, Amihud illiquidity
Kaynak
Kafkas Universitesi Iktisadi Ve Idari Bilimler Fakultesi Dergisi
WoS Q Değeri
Q4
Scopus Q Değeri
Cilt
16
Sayı
31
