期刊名称：Journal of Knowledge Management, Economics and Information Technology
印刷版ISSN：2069-5934
出版年度：2017
卷号：7
期号：4
出版社：ScientificPapers.org
摘要：Petroleum is the life source of modern economies. As countries become urbanized and modernized, petroleum demand would increase dramatically. Predicting future demand for petroleum is quite difficult but it is closely related to industrial production. Therefore, the petroleum demand of countries exhibiting rapid economic growth would also increase rapidly, and the rapid increase in demand for petroleum would cause higher petroleum prices if not compensated by the supply increase. For this reason, the main purpose of the study is to examine the effect of oil prices on the Istanbul Stock Exchange in Turkey as a developing country with hidden cointegration test which is presented by Granger and Yoon (2002). The results indicate that the variables are not co-integrated and therefore there is no long-run relationship between petroleum price shocks and the closing values of Istanbul Stock Exchange.
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