Gelişmekte Olan Ülkelerin Cds Primleri İle Hisse Senetleri Ve Döviz Kurları Arasındaki Kointegrasyon İlişkisi A Coıntegratıon Analysis Between Cds Premiums, Stock Indexes And Exchange Rates In Emerging Countries

Abstract

After the introduction of CDS to the financial markets in

How the macroeconomic conditions and the global risk factors affect sovereign CDS spreads? New Evidence from Turkey

“…This finding is consistent with economic expectations and also with the study of Sovbetov and Saka (2018) for Turkey. Lastly, in contrast to the early findings for Turkey (Kargı, 2014;Başarır and Keten, 2016), the response of sovereign CDS spreads on interest rate shocks is statistically insignificant.…”

Portföy Yatirimlari İle CDS Arasindaki̇ İli̇şki̇: Türki̇ye Örneği̇

“…Son zamanlarda bilgi ve iletişim teknolojilerinde görülen gelişmelerin de etkisiyle finansal piyasalarda çok sayıda yenilik meydana gelmiş ve buna paralel olarak çeşitli finansal araçlar geliştirilmiştir. Bu araçlardan en önde gelenlerinden birisi de kredi türevleri olmuştur (Başarır ve Keten, 2016). Kredi türevleri, kredi riskinden korunmak amacıyla ortaya çıkmış ve kullanımı son zamanlarda giderek artış kaydetmiştir.…”

An Empirical Analysis of the Relationship Between Türkiye’s CDS Premium and Economic, Financial and Political Risk

“…Çavdar (2015) argues that CDS premium impacts bond returns, and a causal relationship between these two markets is prevalent for all countries studied. In their study, Başarır and Keten (2016) conclude that a one and two-way causality exists for exchange rates and stock market indices, respectively, vis-a-vis their relationship with CDS premia. In addition, they fail to find a significant relationship between the variables above when a longer-term period is tested.…”