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  • DUYURU 3

    Yayın politikamız

    gereği,

    yayinlanacak

    makale sayısı

    sınırlandırılmış ve

    çalışmaların geliş

    tarihi itibarıyla

    yayınlanması

    kararlaştırılmıştır.


    DUYURU 2

    Dergimiz ana

    sayfasında

    "Dergi Hakkında"

    kısmında belirtilen

    alanlar dışında

    yayın kabul 

    etmeyecektir.

     


    DUYURU 1

    Çok yazarlı

    makalelerdeki

    tüm yazarların 

    dergiye 

    üye olması

    gerekmektedir.

    Aksi takdirde

    yazılar

    yayınlanmayacaktır.

     


Abstract


DOES FINANCIAL DEVELOPMENT OR FINANCIAL STABILITY FOR PORTFOLIO INVESTMENTS?
In this study, causal relationship between financial development , financial stability and portfolio investment known as indirect foreign investments are investigated to cover the period 2005-2018 for Turkey. The stationary of the series was investigated by unit root test , and then causality relationship between the variables was examined with the current causality tests. According to the findings obtained from the study, while there is no causality relation from financial stability to portfolio investments, it is concluded that there is a causality relationship from financial development to portfolio investments in some periods (3rd and 4th quarters of 2009, full year 2010, 1st and 3rd quarters of 2011, 1st quarter of 2012, 3rd quarter of 2014, full years 2015 and 2016, 1st quarter of 2017). These results indicate that portfolio investments are affected by the financial development variable together with the global financial crisis. In the last period of the time period included in the analysis, this causality disappeared.

Keywords
Financial Development, Financial Stability, Growth, Portfolio Investments


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