Yıl 2017, Cilt , Sayı 2, Sayfalar 26 - 30 2017-12-01

The Impact of Reducing Quantitative Easing Program on Emerging Markets

Emrah Eray AKÇA [1] , Harun BAL [2] , Ömer DEMİR [3]

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In this study, the effect of the official statements that Fed will reduce its monthly asset purchases from $ 85 billion to $ 75 billion on June 19, 2013 under the third quantitative easing (QE3) program on the currencies of emerging markets is being examined by the event study approach. In this context, daily nominal exchange rate data are used for the period of 01.09.2012 - 07.04.2014 for selected countries belonging to emerging markets namely Brazil, India, Hungary, Mexico, South Africa, Philippines, Russia, Thailand and Turkey. Result of the analysis shows that a statistically significant change was detected between pre-event and post-event sample averages in all countries except Hungary. Accordingly, the Fed’s announcements of reducing asset purchases has generally resulted in a depreciation of the currencies of investigated emerging markets.

Quantitative Easing, Capital Flows, Emerging Markets, Event Study Approach
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Birincil Dil en
Konular Sosyal Bilimler (Genel)
Dergi Bölümü Araştırma Makalesi
Yazarlar

Yazar: Emrah Eray AKÇA
E-posta: emraherayakca@gmail.com

Yazar: Harun BAL
E-posta: emraherayakca@gmail.com

Yazar: Ömer DEMİR
E-posta: emraherayakca@gmail.com

Bibtex @araştırma makalesi { ijses397778, journal = {Uluslararası Sosyal ve Ekonomik Bilimler Dergisi}, issn = {}, address = {Nobel Bilim ve Araştırma Merkezi Limited}, year = {2017}, volume = {}, pages = {26 - 30}, doi = {}, title = {The Impact of Reducing Quantitative Easing Program on Emerging Markets}, key = {cite}, author = {DEMİR, Ömer and BAL, Harun and AKÇA, Emrah Eray} }
APA AKÇA, E , BAL, H , DEMİR, Ö . (2017). The Impact of Reducing Quantitative Easing Program on Emerging Markets. Uluslararası Sosyal ve Ekonomik Bilimler Dergisi, (2), 26-30. Retrieved from http://dergipark.gov.tr/ijses/issue/34195/397778
MLA AKÇA, E , BAL, H , DEMİR, Ö . "The Impact of Reducing Quantitative Easing Program on Emerging Markets". Uluslararası Sosyal ve Ekonomik Bilimler Dergisi (2017): 26-30 <http://dergipark.gov.tr/ijses/issue/34195/397778>
Chicago AKÇA, E , BAL, H , DEMİR, Ö . "The Impact of Reducing Quantitative Easing Program on Emerging Markets". Uluslararası Sosyal ve Ekonomik Bilimler Dergisi (2017): 26-30
RIS TY - JOUR T1 - The Impact of Reducing Quantitative Easing Program on Emerging Markets AU - Emrah Eray AKÇA , Harun BAL , Ömer DEMİR Y1 - 2017 PY - 2017 N1 - DO - T2 - Uluslararası Sosyal ve Ekonomik Bilimler Dergisi JF - Journal JO - JOR SP - 26 EP - 30 VL - IS - 2 SN - -2146-0078 M3 - UR - Y2 - 2017 ER -
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