Finansal Krizlerde Bulaşma ve 2008 Krizinin Gelişmiş ve Gelişmekte Olan Ülkelere Etkisi

Abstract

After the financial liberalisation, integration of the coountry markets bring lots of positive and negative results. Effective usage of the resources, the differention of the financial derivatives according to needs.increase in the investment opprtunuties, decrease in the investment costs, strenghtening in the legal side of te financing activity could be said about the positive results. On the other hand, because of the contagion, the problem of a country about economic and financial issue, spread across countries, and this situation bring some problems like moral hazard because of the low inspection of markets. In this thesis, the effect on the 2008 Global Financial Crises on selected countrys’ stock excahnges were tried to be estimated, the sensitivity of the selected coutrys’s stock exchanges to S&P500 Index, CDS rate, Consumer Price INDEX and 10 Year Government Bond Interest Rate predicted and results were compared for emeged and emeging countries. Results Show that, the 2008 Global Financial Crisis has affected countries through various transmission channels due to its severity and impact area. In the study, the sensitivity of developing countries to the S & P500 index and CDS premium after the crisis shows that these countries are tied to developed country markets and cannot isolate themselves from the negative conditions of the crisis.