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How Do Political and Economic News Affect Emerging Markets? Evidence from Argentina and Turkey

Author

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  • Zeynep Ãnder
  • Can Åimga-Mugan

Abstract

High returns in emerging markets over the last decade have attracted international investors. This study investigates if and how economic or political news affects stock market activity in two emerging markets: Argentina and Turkey. Our analysis shows that political and economic news influences both the volatility of returns and trading volume in these markets to varying degrees. Results suggest that both economic and political factors, as well as specific market characteristics, should be taken into consideration by international investors when making investment decisions in emerging markets.

Suggested Citation

  • Zeynep Ãnder & Can Åimga-Mugan, 2006. "How Do Political and Economic News Affect Emerging Markets? Evidence from Argentina and Turkey," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 42(4), pages 50-77, July.
    • Handle: RePEc:mes:emfitr:v:42:y:2006:i:4:p:50-77
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    Citations

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    Cited by:

    1. D Büttner & B. Hayo, 2012. "EMU-related news and financial markets in the Czech Republic, Hungary and Poland," Applied Economics, Taylor & Francis Journals, vol. 44(31), pages 4037-4053, November.
    2. Cakan Esin & Rangan Gupta, 2017. "Does the US. macroeconomic news make the South African stock market riskier?," Journal of Developing Areas, Tennessee State University, College of Business, vol. 51(4), pages 17-27, October-D.
    3. Hanedar, Avni Önder & Hanedar, Elmas Yaldız, 2017. "Ottoman stock returns during the Turco-Italian and Balkan Wars of 1910-1914," eabh Papers 17-02, The European Association for Banking and Financial History (EABH).
    4. Hanedar, Avni Önder & Yaldız Hanedar, Elmas, 2017. "Stock market reactions to wars and political risks: A cliometric perspective for a falling empire," MPRA Paper 85600, University Library of Munich, Germany, revised 25 Mar 2018.
    5. David A. Burnie, 2021. "Democracy, dictatorship, and economic freedom signals in stock market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 375-390, January.
    6. Eleftherios Spyromitros, 2020. "The effect of corruption on stock market volatility," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(2), pages 1-6.
    7. Mehmet Balcilar & Esin Cakan & Rangan Gupta, 2016. "Does U.S. News Impact Asian Emerging Markets? Evidence from Nonparametric Causality-in-Quantiles Test," Working Papers 201631, University of Pretoria, Department of Economics.
    8. GOK, Ibrahim Yasar & TOPUZ, Sefa, 2016. "The Impact Of The Domestic And Foreign Macroeconomic News Announcements On The Turkish Stock Market," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 20(3), pages 95-107.
    9. Lau, Chi Keung Marco & Demir, Ender & Bilgin, Mehmet Huseyin, 2013. "Experience-based corporate corruption and stock market volatility: Evidence from emerging markets," Emerging Markets Review, Elsevier, vol. 17(C), pages 1-13.

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