Abstract:

In this study, the impact of selected economic indicators for the BRIC-T countries (Brazil, Russia, India, China and Turkey) on the stock exchange indicators of these countries was tested using the panel data analysis method using monthly data for the period 2010-2018. The variable is modeled using industrial production index, gold, oil prices and stock exchange index series. Distributed Delayed Autoregressive (ARDL) According to the empirical analysis results obtained by the test of integration based on the border test, in the long term, an increase of 1% in the industrial production index in the long term will increase the BRICS-T countries’ stock exchanges by 0.45%, and the same increase in the oil prices by 0. It can be said to be reduced to 30. In short-term analysis, the error correction terms of the model are working, meaning the error correction parameter that indicates the possibility and speed of correction of short-term imbalances is also negative and statistically meaningful. The short-term imbalances can be removed in a long-term, but it can last relatively long.

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