Is there a price bubble in the exchange rates of the developing countries? The case of BRICS and Turkey

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dc.authoridalola, andrew/0000-0001-5355-3707
dc.contributor.authorYildirim, Hakan
dc.contributor.authorAkdag, Saffet
dc.contributor.authorAlola, Andrew Adewale
dc.date.accessioned2025-03-17T12:25:40Z
dc.date.available2025-03-17T12:25:40Z
dc.date.issued2022
dc.departmentTarsus Üniversitesi
dc.description.abstractPurposeThe last decades have experienced increasingly integrated global political and economic dynamics ranging especially from the influence of exchange rates and trade amid other sources of uncertainties. The purpose of this study is to examine the exchange rate dynamics of Brazil, Russia, India, China, and South Africa (BRICS) and the Republic of Turkey.Design/methodology/approachGiven this perceived global dynamics, the current study examined the BRICS countries and the Republic of Turkey's exchange rate dynamics by using the United States (US) monthly dollar exchange rate data between January 2002 and August 2019. The price bubble which is expressed as exceeding the real value of assets' prices which is observably caused by speculative movements is investigated by using the Supremum Augmented Dickey-Fuller (SADF) and the Generalized Supremum Augmented Dickey-Fuller (GSADF) approaches.FindingsAccordingly, the GSADF test results opined that there are price bubbles in the dollar exchange rate of other countries except for the United States Dollar (USD)/Indian Rupee (INR) exchange rate. As the related countries are classified as developing countries in terms of their structure, they are also expectedly the subject of speculative exchange rate movements. Speculative movements in exchange rates may cause serious problems in national economies.Originality/valueThus, the current study provides a policy framework to the BRICS countries and the Republic of Turkey.
dc.identifier.doi10.1108/JEFAS-04-2021-0025
dc.identifier.endpage261
dc.identifier.issn2077-1886
dc.identifier.issn2218-0648
dc.identifier.issue54
dc.identifier.scopus2-s2.0-85131314764
dc.identifier.scopusqualityQ1
dc.identifier.startpage247
dc.identifier.urihttps://doi.org/10.1108/JEFAS-04-2021-0025
dc.identifier.urihttps://hdl.handle.net/20.500.13099/1806
dc.identifier.volume27
dc.identifier.wosWOS:000937234900005
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherEmerald Group Publishing Ltd
dc.relation.ispartofJournal of Economics Finance and Administrative Science
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250316
dc.subjectPrice bubble
dc.subjectCurrency conversion rates
dc.subjectSADF
dc.subjectGSADF
dc.subjectBRICS
dc.subjectTurkey
dc.subjectC22
dc.subjectD51
dc.subjectG12
dc.subjectG17
dc.titleIs there a price bubble in the exchange rates of the developing countries? The case of BRICS and Turkey
dc.typeArticle

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