Recent studies have examined the relationship between economic policy uncertainty and exchange rate. We contribute to this literature by considering the effect of minor positive and major positive changes as well as minor negative and major negative changes in the economic policy uncertainties on the exchange rates. In this regard, we use a recently developed multiple asymmetric threshold nonlinear ARDL model along with Granger causality in quantile test. Our estimates support the asymmetric effect in three countries only when an asymmetric ARDL model is used. However, these estimates support asymmetric effects for all the sample countries when the multiple asymmetric threshold nonlinear ARDL model is used. Moreover, the effect varies across various quantiles when Granger causality in quantile test is used. Overall, the extended model helps us to examine more minutely the impact of EPU and GEPU on the exchange rate in G7 countries. The results of this study can be useful for the central banks to devise appropriate policies to intervene in the foreign exchange market.
Foreign portfolio investments and international capital flows have crucial effects on stock market indexes and economic performance of a country. In this article, the effects of foreign portfolio investments on fluctuations of BIST100 index were examined. In this context, data of 522 weekly time series between 07.01.2005 and 02.01.2015 were used. For stock certificates of people living abroad and the BIST100 index, time series econometrics was applied and it was tested with VAR method. In this article, in order to define the direction of causality between variables, Granger causality test, action-reaction function and variant discretisation techniques were used. "It was concluded that in BIST100 index as more foreign investors buy the stocks, the index navigates in higher levels. So foreign portfolio investments and international capital flows have impact on BIST100 index.
The development of information and communication technologies has reached a level where their use in business and governance is becoming not only expedient but also inevitable. The Internet and ICT have created the technical and technological foundation that can significantly improve the efficiency of public administration, provide businesses and citizens with access to necessary information, simplify bureaucratic procedures and reduce the time for decision making. The paper describes the new conditions in which the business is developing. The article presents the features of the interaction of e-government and business, the impact of e-government on the development of the economy as a whole. The authors analyzed the process of development of technologies for e-governance and e-commerce. The authors identified the tasks that are solved by means of e-government. Also, the authors set up indicators for evaluating the effectiveness of the e-governance. The implementation of the e-government demonstrates advantages for the further development of the economic sector and the whole state in general.
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