Relationship Between Investment Instruments and Inflation in Türkiye: A VAR Analysis (2015.12-2021.12)

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dc.contributor.authorDayan, Volkan
dc.contributor.authorErdoğan, Serdar
dc.date.accessioned2024-06-12T10:04:38Z
dc.date.available2024-06-12T10:04:38Z
dc.date.issued2023
dc.departmentTrakya Üniversitesien_US
dc.description.abstractInvestment instruments are important not only for companies but also for the financial stability of national economies. On the other side, inflation is also critical in terms of production costs, sales prices of companies and the economic stability of the countries. In addition, the size of the returns to be obtained from investment instruments is crucial to protect the purchasing power of individuals in inflationary environments as well. In this study, the relationship between the investment instruments of selected portfolio investors and inflation was examined. For this purpose, monthly data were used between the years 2015-2021 in Türkiye. In the analysis, the VAR model was used with the index returns of investment instruments and consumer price index (CPI) data. According to the results, the stability condition of the VAR model was met among all variables. It has been revealed that private pension funds, gold, and foreign exchange returns have been the one-way cause of inflation, on the other side gold and foreign exchange returns and inflation have been one-way causes of deposit returns. In addition, it has been determined that the return of the private pension system is effective on the change of all investment instruments. Besides, it has been found that foreign exchange returns are effective in explaining the changes in inflation and deposit returns. Finally, it has been concluded that inflation is effective on changes in deposit and foreign exchange returns.en_US
dc.identifier.doi10.25095/mufad.1183719
dc.identifier.endpage208en_US
dc.identifier.issn2146-3042
dc.identifier.issue98en_US
dc.identifier.startpage189en_US
dc.identifier.trdizinid1174798en_US]
dc.identifier.urihttps://doi.org/10.25095/mufad.1183719
dc.identifier.urihttps://search.trdizin.gov.tr/yayin/detay/1174798
dc.identifier.urihttps://hdl.handle.net/20.500.14551/12930
dc.indekslendigikaynakTR-Dizinen_US
dc.language.isoenen_US
dc.relation.ispartofMuhasebe ve Finansman Dergisien_US
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.titleRelationship Between Investment Instruments and Inflation in Türkiye: A VAR Analysis (2015.12-2021.12)en_US
dc.typeArticleen_US

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