Is PMI a Leading Indicator: Case of Turkey

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Küçük Resim

Tarih

2020

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

Erişim Hakkı

info:eu-repo/semantics/openAccess

Özet

In this study, the causal relationships of the Purchasing Managers Index (PMI) with various financial factors are examined. As a result of the analysis, it is determined that the change in the Istanbul-Stock-Exchange-Industry Index (ISEIND) causes the change in the PMI and the changes in the PMI also causes the changes in the Industrial-Production Index (IPI) and the Capacity-UtilizationRates (CUR). It is also determined that the causality towards to PMI from the ISEIND and causality towards IPI from PMI is valid in the medium- and long-run, whereas the causality towards PMI to CUR are valid for the all periods. According to these results, PMI can be considered as a leading indicator for the real sector. However, the same result does not apply to the financial sector.

Açıklama

Anahtar Kelimeler

Purchasing Manager’s Index, Istanbul Stock Exchange Industry Index, Industrial Production Index, Capacity Utilization Rates, Granger Casuality, Frequency Domain Causality, Satınalma Yöneticileri Endeksi, BİST Sanayi Endeksi, Sanayi Üretim Endeksi, Kapasite Kullanım Oranı, Granger Nedensellik, Frekans Nedensellik Analizi

Kaynak

Sosyoekonomi

WoS Q Değeri

Scopus Q Değeri

Cilt

28

Sayı

45

Künye

Akdağ, S., Deran, A. ve İskenderoğlu, Ö. (2020). Is PMI a Leading Indicator: Case of Turkey, Sosyoekonomi, 28 (45), 37-47.