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COVID-19 SALGINININ ALTIN FİYATLARI, PETROL FİYATLARI VE VIX ENDEKSİ İLE ARASINDAKİ İLİŞKİ

Year 2020, , 93 - 109, 29.06.2020
https://doi.org/10.46790/erzisosbil.748181

Abstract

Covid-19 Koronavirüs salgını döneminde oluşan korku ve belirsizlik finansal piyasalarda ve emtia piyasalarında oynaklığın artışına neden olmuştur. Bu çalışma Covid-19’un finansal piyasalar ve emtia piyasaları üzerinde önemli etkilerinin olduğunu göstermek amacıyla yapılmıştır. 22 0cak 2020 ve 20 Nisan 2020 dönemi dikkate alınmış ve günlük veriler kullanılarak analiz gerçekleştirilmiştir. Covid-19 günlük vaka sayılarının, ARDL Sınır Testi kullanılarak altın fiyatları, petrol fiyatları ve VIX Endeksi üzerindeki muhtemel etkisi incelenmiştir. Ulaşılan sonuçlara göre vaka sayıları ve altın fiyatları arasında aynı yönlü ilişki tespit edilmiştir. Benzer şekilde vaka sayıları ve VIX Endeksi arasında da aynı yönlü bir ilişki tespit edilmiştir. Ancak vaka sayıları ve petrol fiyatları arasında herhangi bir eş bütünleşme ilişkisi tespit edilememiştir. Çalışmada ulaşılan sonuçlar, Covid-19 vaka sayılarının altın fiyatları ve VIX Endeksini önemli derecede etkilediğini göstermiştir.

References

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  • Bardsen, G. (1989). “Estimation of long run coefficients in error correction models”. Oxford Bulletin of Economics and Statistics, 51(3), 345-350.
  • Beck, T. (2020). 6 Finance in the times of coronavirus. Economics in the Time of COVİD-19, 73 . Beutels, P., Jia, N., Zhou, Q. Y., Smith, R., Cao, W. C., & De Vlas, S. J. (2009). The economic impact of SARS in Beijing, China. Tropical Medicine & International Health, 14, 85-91.
  • Bloom, D. E., & Mahal, A. S. (1997). Does the AIDS epidemic threaten economic growth?. Journal of Econometrics, 77(1), 105-124.
  • Eichenbaum, M. S., Rebelo, S., & Trabandt, M. (2020). The macroeconomics of epidemics (No. w26882). National Bureau of Economic Research.
  • Erik, B., Lombardi, M. J., Mihaljek, D., & Shin, H. S. (2020). The dollar, bank leverage and real economic activity: an evolving relationship.
  • Fosu, E. O. ve Mangus, F. (2006). “Bounds Testing Approach to Cointergration: An Examination of Foreign Direct Investment, Trade and Growth Relationship”. Journal of American Applied Science, 3(11), 2079–2085.
  • Keogh-Brown, M. R., & Smith, R. D. (2008). The economic impact of SARS: how does the reality match the predictions?. Health policy, 88(1), 110-120.
  • Luo, S., & Tsang, K. P. (2020). How Much of China and World GDP Has The Coronavirus Reduced?. Available at SSRN 3543760.
  • Makridis, C., & Hartley, J. (2020). The Cost of COVİD-19: A Rough Estimate of the 2020 US GDP Impact. Special Edition Policy Brief.
  • Onali, E. (2020). Covid-19 and stock market volatility. Available at SSRN 3571453.
  • Özatay, F., & Sak, G. (2020). COVİD-19’un Ekonomik Sonuçlarını Yönetebilmek İçin Ne Yapılabilir?. TEPAV Politika Notu, (202005).
  • Pesaran, M. H. ve Shin, Y. (1998). “An autoregressive distributed-lag modelling approach to cointegration analysis”. Econometric Society Monographs. 31, 371-413.
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). “Bounds testing approaches to the analysis of level relationships”. Journal of applied econometrics. 16(3), 289-326.
  • Sansa, N. A. (2020). Analysis for the Impact of the COVİD-19 to the Petrol Price in China. Available at SSRN 3547413.
  • Şenol, Zekai, & ZEREN, Feyyaz (2020), Coronavirus (Covid-19) And Stock Markets: The Effects Of The Pandemic On The Global Economy. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi, 7(4), 1-16. Taban, S. (2008). “Türkiye'de Enflasyon-Ekonomik Büyüme İlişkisi: Sinir Testi Yaklaşımı”. Türkiye İstatistik Kurumu Akademi, 3(5), 145-167.
  • Wagner, A. F. (2020). What the stock market tells us about the post-COVİD-19 world. Nature Human Behaviour, 1-1.
  • Zeren, F., & Hızarcı, A. The Impact Of Covid-19 Coronavırus On Stock Markets: Evıdence From Selected Countrıes. Muhasebe ve Finans İncelemeleri Dergisi, 3(1), 78-84.
  • https://tr.investing.com
  • https://www.worldometers.info
Year 2020, , 93 - 109, 29.06.2020
https://doi.org/10.46790/erzisosbil.748181

Abstract

References

  • Açıkgöz, Ö., & Günay, A. (2020). The early impact of the Covid-19 pandemic on the global and Turkish economy. Turkish Journal of Medical Sciences, 50(SI-1), 520-526.
  • Albulescu, C. (2020a). Coronavirus and oil price crash. Available at SSRN 3553452.
  • Akerlof, A. ve Aron, J. (2000). Limonlar için piyasa. New Jersey: Oxford Press.
  • Albulescu, C. (2020b). Coronavirus and financial volatility: 40 days of fasting and fear. arXiv preprint arXiv:2003.04005.
  • Baker, S., Bloom, N., Davis, S. J., Kost, K., Sammon, M., & Viratyosin, T. (2020). The unprecedented stock market reaction to COVİD-19. Covid Economics: Vetted and Real-Time Papers, 1(3).
  • Baldwin, R., & Tomiura, E. (2020). Thinking ahead about the trade impact of COVİD-19. Economics in the Time of COVİD-19, 59.
  • Bardsen, G. (1989). “Estimation of long run coefficients in error correction models”. Oxford Bulletin of Economics and Statistics, 51(3), 345-350.
  • Beck, T. (2020). 6 Finance in the times of coronavirus. Economics in the Time of COVİD-19, 73 . Beutels, P., Jia, N., Zhou, Q. Y., Smith, R., Cao, W. C., & De Vlas, S. J. (2009). The economic impact of SARS in Beijing, China. Tropical Medicine & International Health, 14, 85-91.
  • Bloom, D. E., & Mahal, A. S. (1997). Does the AIDS epidemic threaten economic growth?. Journal of Econometrics, 77(1), 105-124.
  • Eichenbaum, M. S., Rebelo, S., & Trabandt, M. (2020). The macroeconomics of epidemics (No. w26882). National Bureau of Economic Research.
  • Erik, B., Lombardi, M. J., Mihaljek, D., & Shin, H. S. (2020). The dollar, bank leverage and real economic activity: an evolving relationship.
  • Fosu, E. O. ve Mangus, F. (2006). “Bounds Testing Approach to Cointergration: An Examination of Foreign Direct Investment, Trade and Growth Relationship”. Journal of American Applied Science, 3(11), 2079–2085.
  • Keogh-Brown, M. R., & Smith, R. D. (2008). The economic impact of SARS: how does the reality match the predictions?. Health policy, 88(1), 110-120.
  • Luo, S., & Tsang, K. P. (2020). How Much of China and World GDP Has The Coronavirus Reduced?. Available at SSRN 3543760.
  • Makridis, C., & Hartley, J. (2020). The Cost of COVİD-19: A Rough Estimate of the 2020 US GDP Impact. Special Edition Policy Brief.
  • Onali, E. (2020). Covid-19 and stock market volatility. Available at SSRN 3571453.
  • Özatay, F., & Sak, G. (2020). COVİD-19’un Ekonomik Sonuçlarını Yönetebilmek İçin Ne Yapılabilir?. TEPAV Politika Notu, (202005).
  • Pesaran, M. H. ve Shin, Y. (1998). “An autoregressive distributed-lag modelling approach to cointegration analysis”. Econometric Society Monographs. 31, 371-413.
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). “Bounds testing approaches to the analysis of level relationships”. Journal of applied econometrics. 16(3), 289-326.
  • Sansa, N. A. (2020). Analysis for the Impact of the COVİD-19 to the Petrol Price in China. Available at SSRN 3547413.
  • Şenol, Zekai, & ZEREN, Feyyaz (2020), Coronavirus (Covid-19) And Stock Markets: The Effects Of The Pandemic On The Global Economy. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi, 7(4), 1-16. Taban, S. (2008). “Türkiye'de Enflasyon-Ekonomik Büyüme İlişkisi: Sinir Testi Yaklaşımı”. Türkiye İstatistik Kurumu Akademi, 3(5), 145-167.
  • Wagner, A. F. (2020). What the stock market tells us about the post-COVİD-19 world. Nature Human Behaviour, 1-1.
  • Zeren, F., & Hızarcı, A. The Impact Of Covid-19 Coronavırus On Stock Markets: Evıdence From Selected Countrıes. Muhasebe ve Finans İncelemeleri Dergisi, 3(1), 78-84.
  • https://tr.investing.com
  • https://www.worldometers.info
There are 25 citations in total.

Details

Primary Language Turkish
Journal Section Araştırma
Authors

Salim Sercan Sarı 0000-0003-2607-5249

Taha Kartal 0000-0002-8491-8446

Publication Date June 29, 2020
Submission Date June 4, 2020
Acceptance Date June 25, 2020
Published in Issue Year 2020

Cite

APA Sarı, S. S., & Kartal, T. (2020). COVID-19 SALGINININ ALTIN FİYATLARI, PETROL FİYATLARI VE VIX ENDEKSİ İLE ARASINDAKİ İLİŞKİ. Erzincan Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 13(1), 93-109. https://doi.org/10.46790/erzisosbil.748181

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