BRICS, MIST, Kırılgan Beşli Kapsamında Yer Alan Ülkelerin Menkul Kıymetler Borsaları Arasındaki Kısa Ve Uzun Dönemli Etkileşime İlişkin Amprik Bir Araştırma

The purpose of this study is to explore the interaction direction whether Turkish stock market and markets other countries within scope BRICS, MIST Fragile Five, which are result international determinism economic situation trends in global system, affecting each or not. In order test between Stock Exchange exchanges Five countries, weekly closing data were handled for period June 7, 2009 December 25, 2016 following indexes: BIST100 (Turkey), BVSP (Brazil), MCX (Russia), BSESN (India), SSEC (China), INVSAF40 (South Africa), MMX (Mexico), JKSE (Indonesia) KOSPI Korea). After basic statistical properties series determined study, financial relation; explained by co integration causality tests. Static analysis ADF (Augmented Dickey-Fuller) PP (Phillips Perron) unit root tests later Zivot-Andrews was performed one next generation tests, allows single structural break from generation. existence a long-term relationship Johansen test. addition, long-run Gregory-Hansen variables assessed form. Finally, Toda-Yamamoto Granger conducted determine interaction. Long-term relationships found among results that performed. While two-way (Turkey) with (Brazil) (India); one-way towards