Özet:

In this study, we test the existence of relationship between investor sentiment, economic growth and market liquidity in Turkey by using Vector Autoregression Model (VAR) and Granger Causality Test, for the period 1988-2012. In conclusion, we confirm that there is a causality relationship running from investor sentiment and economic growth. Also investor sentiment and market liquidity relation is confirmed bilaterally. The paper is important for investors and market makers in terms of investors' non-rational attitudes as a determinant of economic growth and market liquidity

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