Özet:

Abstract enAs the contagion effect of crisis, declines in the US markets caused sharp decreases in the developed markets. It also caused similar effects at the developing markets with some time lags. Decoupling hypothesis suggests that if a greater economy to come under an economic crises, it would not significantly affect other countries at it has been before. According to this theorem, since other countries keep growing individually, even though a major country is experiencing economic crisis, overall effect on the global economy would not be a significant slowdown. In this paper, we analyzed the short term and long term correlations of the US, BRIC and G7 countries’ stock indices. We used monthly data set of 2003:01-2012:02 studied countries’ stock indices for Engle Granger and Johansen cointegration analysis. As a result, we recognized some findings in developing markets that supports the decoupling hypothesis in the studied period

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