📊 Reevaluating the Relationship Between Energy, Commodity, and Financial Markets
The latest study by Assoc. Prof. Dr. Türker Batmaz, published in Bilig - Journal of Social Sciences of the Turkic World (SSCI Q3 category), is the first and only research that examines the relationships between energy, commodity, and financial markets specifically within the Turkic World.
📌 The research covers the period from January 2010 to April 2022 and uses data from Turkey, Azerbaijan, Kazakhstan, Kyrgyzstan, and Uzbekistan. The study provides a detailed analysis of the dynamic relationships among energy (oil and natural gas prices), inflation rate, and exchange rate.
🔍 The findings reveal that inflation is primarily driven by natural gas prices, while oil prices affect inflation indirectly through natural gas prices. In addition, the pass-through effect of exchange rates on inflation differs across countries, and the dependency between energy prices and exchange rates is found to be weak.
💡 Thanks to the results obtained using the Fourier Toda-Yamamoto causality analysis, the study provides valuable guidance for policymakers and contributes to a better understanding of the relationship between energy and financial markets.
📖 Journal: Bilig
📊 Index: SSCI Q3
