TY - JOUR
T1 - Market Integration between Turkey and Eurozone Countries
AU - Apergis, Nicholas
AU - Lau, Chi Keung Marco
AU - Şen, Fatma Öğücü
AU - Wang, Shixuan
N1 - Publisher Copyright:
©, Copyright © Taylor & Francis Group, LLC.
Copyright:
Copyright 2019 Elsevier B.V., All rights reserved.
PY - 2019/9/19
Y1 - 2019/9/19
N2 - This study examines the degree of integration of the Turkish economy and European markets as well as the nature of price convergences across major cities for common categories of goods. A series of unit root tests are performed to assess these price convergences by considering non-linearity, cross-sectional correlations, and structural breaks. We find that the Turkish and European markets are well-integrated. Moreover, Turkey’s highest rate of convergence occurs in the fresh fruits and vegetables (supermarkets) and canned goods (mid-priced stores) categories, suggesting arbitrage activities exist across common categories of goods.
AB - This study examines the degree of integration of the Turkish economy and European markets as well as the nature of price convergences across major cities for common categories of goods. A series of unit root tests are performed to assess these price convergences by considering non-linearity, cross-sectional correlations, and structural breaks. We find that the Turkish and European markets are well-integrated. Moreover, Turkey’s highest rate of convergence occurs in the fresh fruits and vegetables (supermarkets) and canned goods (mid-priced stores) categories, suggesting arbitrage activities exist across common categories of goods.
UR - http://www.scopus.com/inward/record.url?scp=85073825351&partnerID=8YFLogxK
U2 - 10.1080/1540496X.2019.1658070
DO - 10.1080/1540496X.2019.1658070
M3 - Article
AN - SCOPUS:85073825351
SN - 1540-496X
JO - Emerging Markets Finance and Trade
JF - Emerging Markets Finance and Trade
ER -