The relationship between BIST transportation index, exchange rate and oil prices: ARDL bounds test approach

As the stock exchanges have an important place in the financial systems of the countries, the transportation and transportation sector also has a vital place in the economies of the countries. Price changes in this sector have the potential to affect almost all sectors. From this point of view, it is thought that investigating the relationship between Borsa Istanbul Transportation Sector Index and exchange rate and oil prices will contribute to the literature. In this study, 226 monthly data for the period 2003:M01-2021:M10, short and long term relationships between BIST Transportation Index, dollar exchange rate and oil prices were analyzed using ARDL Bounds Test model. According to the findings obtained as a result of the analyzes, it was determined that there was a statistically significant relationship between BIST XULAS and the other series discussed. It was concluded that there is a cointegration relationship between the transportation index and the dollar and oil prices.