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.
Since the ancient times the path between two continents led always through Turkey. Valuable merchandise traveled the famous Silk Road and allows creating a profitable trade for both sides of the known world. From international logistic perspective this process although risky and costly was a condition for future development of both regions. Today is also visible that maintaining an efficient and save route between both mentioned economically potent parts of the world is a crucial condition for trade increase and future development. This fresh outlook can be also complemented by the increase of global competitiveness unrepresented in ancient times. The purpose of this paper is to present Turkey as a developing hub for future connection between Europe and Asia. A vast investments already made in projects ensuring revival of ancient route indicate a modern approach to the task of connecting economical potential from both sides of Eurasia. The logistic performance index shows perceived progress in Turkey, critical region for the route. The present and future projects can increase the tempo of logistical development even faster. There is a viable business for both European and Asian regions to create a useful logistical hub between them. And the location of it becomes clear as data suggest.
Streszczenie: Gospodarka Unii Europejskiej wpływa na konfigurację łańcuchów dostaw powstających na jej obszarze. Zmiany, które dotyczą dostępu do jej obszaru, w konsekwencji wpływają na wydajność logistyczną przedsiębiorstw w łańcuchach dostaw. Celem opracowania jest wskazanie kierunków potencjalnych zmian w obszarze funkcjonowania europejskich łańcuchów dostaw następujących w kontekście realizacji Brexitu. Wykorzystując analizę danych dotyczących indeksu Logistics Performance Index, przedstawiono dotychczasowy rozwój wydajności logistycznej Zjednoczonego Królestwa w czasie i porównano go do zmian wydajności w regionie Europa-Centralna Azja. Porównanie zmian tego wskaźnika umożliwia wnioskowanie o korzystnym wpływie realizacji dotychczasowej polityki integracji na wydajność logistyczną. Rozpoczęcie procesu Brexitu może jednak zakłócić dotychczasową tendencję wzrostową ze względu na powstanie barier w dostępie do wspólnego europejskiego rynku.Słowa kluczowe: wydajność logistyczna, europejskie łańcuchy dostaw, logistyka międzynarodowa.
Summary:The EU's economy influences the configuration of the supply chains in its area. Changes that affect access to the area affect the logistics performance of enterprises in the supply chains as a consequence. The aim of the study is to identify potential directions for changes in the functioning of the European supply chains in the context of the implementation of Brexit. Using the Logistic Performance Index data analysis it is explained that UK's logistical performance corelates with performance changes in Europe and the Central Asian region. The comparison of changes in this indicator makes it possible to deduce the positive impact of the implementation of the current integration policy on logistic performance. The start of the Brexit process may, however, disrupt the current upward trend due to barriers to access to the single European market.
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