In this paper, we aim to test the empirical validity of the QTM relationship for the Turkish economy. Using some contemporaneous time series estimation techniques, our estimation results reveal that stationarity characteristics of the velocities of currency in circulation and the broad money...

Migrant remittances tend to be more stable, unlike other sources of external financing, making remittances a reliable source for developing countries. Thus, despite the upward trend in remittances, stock markets in developing countries are generally characterized by high volatility. This study...