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    Economic policy uncertainty and stock market returns in selected eurozone countries
    (ASERS Publishing House, 2015) Bayar, Y.; Aytemiz, L.
    The uncertainties in economic policies may affect macroeconomic variables by affecting the decision making process of the economic agents. This paper examines the impact of economic policy uncertainty in selected Eurozone member countries on stock market returns during the period January 2001-December 2014 by using Dumitrescu and Hurlin (2012) panel causality test. The causality results indicated that there was no causality from economic policy uncertainty at both country level and common level to stock markets, but there was causality from stock market to EPU indexes. On the other hand there was bidirectional causality between stock market and dollar/euro exchange rate. © 2015 ASERS Publishing House. All rights reserved.
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    Impact of economic freedom, political stability and economic growth in the USA on emerging Asian economies
    (National Academy of Management, 2015) Bayar, Y.; Aytemiz, L.
    This study examines the impact of economic freedom, political stability and economic policy uncertainty in the United States on economic growth in emerging Asian countries during the period 2002-2013 using Westerlund’s Durbin-Hausman cointegration tests and Dumitrescu-Hurlin panel causality test. A long-run relationship between economic growth, political stability, economic freedom and economic policy uncertainty in the US has been founded. Economic freedom and political stability had positive impact on economic growth, while economic policy uncertainty in the US had mixed impact on economic growth. The Dumitrescu-Hurlin panel causality test demonstrated a unidirectional causality from economic freedom to economic growth and from economic growth and economic policy uncertainty in the US, while there was bidirectional causality between political stability and economic growth. ©Yilmaz Bayar, Levent Aytemiz, 2015.