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Derginin Adı:
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International Journal of Social Sciences and Education Research
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Cilt:
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2015/1
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Sayı:
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3
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Makale Başlık:
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Causality analysis of Turkish electricity financial markets
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Makale Alternatif Dilde Başlık:
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Alternatif dilde başlık bulunmamaktadır. There is no article title in another language.)
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Makale Eklenme Tarihi:
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10.01.2019
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Okunma Sayısı:
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1
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Makale Özeti:
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Electricity energy is an indispendable part of life with continuously improving technology. Growth of the sector is unavoidable due to the increasing need of electricity. Properly functioning market structure is also important to attract investments in the sector. Therefore, plenty of steps are taken and essential changes are being done.The process that starting with the Electricity Market Law and aims to have an electricity market that is clear, reliable, competitive, and integrated with electricity markets of other countries. Turkish Energy Market was decided to establish the name of more liberal and more reliable electricity market. Only electricity trading is going to be done in this market at the first step. Following the developments and changes lasted long years, electricity trading is possible both in spot and derivative markets in Turkey. It is accepted that the prices of derivatives are leading indicators of spot prices and this relationship is used for the purpose of forecasting and risk management by the investors. Taking into consideration of this theory, relationship between electricity spot and futures markets were examined with granger causality test to determine the situation in Turkish electricity market. As a result, bi-directional causality relationship was specified in the market.
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Alternatif Dilde Özet:
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Alternatif dilde abstract bulunmamaktadır. (There is no abstract in another language.)
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