This paper contributes to the literature on the financial integration in international stock markets by examining the dynamic relationship between global factors and herd behavior in an emerging market. Utilizing a time-varying transition probability Markov Switching model (TVTP-MS), we examine...

This paper contributes to the literature on the financial integration in international stock markets by examining the dynamic relationship between global factors and herd behavior in an emerging market. Utilizing a time-varying transition probability Markov Switching model (TVTP-MS), we examine...

This paper contributes to the literature on the financial integration in international stock markets by examining the dynamic relationship between global factors and herd behavior in an emerging market. Utilizing a time-varying transition probability Markov Switching model (TVTP-MS), we examine...

This study examines the macroeconomic effect of FDI on the Turkish economy. We construct a basic macro model and use regression analysis to explore the possible effects of FDI on the Turkish economy through domestic investment, private consumption, exports, and imports. We use data from 1960 to...

The amount of foreign direct investment (FDI) in the Turkish economy increased considerably over two decades and reached a historically highest level in the year 2006. With increasing FDI inflows and their effects on the Turkish economy, it has become critical to determine the factors that...

The main purpose of this article is to study whether firm-level return dispersions might have any significance in explaining asymmetric return correlations observed in equity market returns. Correlation asymmetry, in particular increased return correlations conditional on downside moves, implies...