Özet:

The purpose of this study is to analyze the macroeconomic and institutional determinants of the development of the stock market in Turkey and 8 APEC country (Indonesia, Malaysia, Singapore, Thailand, Japan, Mexico, Australia and Chile). The panel data method was used in the study in the period of 1995-2015. As macroeconomic determinants of the stock market; stock trading volume, per capita income, loans extended to the private sector, gross domestic savings, and direct foreign capital changes were used. As the institutional determinant; corruption index and economic freedom index was used. In the analysis findings, there was a positive and statistically significant relationship between the of the stock market development and all the macroeconomic variables discussed. There is a statistically significant relationship between corruption and the stock market institutional determinats; no relation was found between economic freedoms and stock market development.

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