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Market integration between Turkey and Eurozone countries

Apergis, N., Lau, C. K. M., Şen, F. Ö. and Wang, S. ORCID: (2021) Market integration between Turkey and Eurozone countries. Emerging Markets Finance and Trade, 57 (9). pp. 2674-2686. ISSN 1540-496X

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To link to this item DOI: 10.1080/1540496X.2019.1658070


This study examines the degree of integration of the Turkish economy and European markets as well as the nature of price convergences across major cities for common categories of goods. A series of unit root tests are performed to assess these price convergences by considering non-linearity, cross-sectional correlations, and structural breaks. We find that the Turkish and European markets are well-integrated. Moreover, Turkey’s highest rate of convergence occurs in the fresh fruits and vegetables (supermarkets) and canned goods (mid-priced stores) categories, suggesting arbitrage activities exist across common categories of goods.

Item Type:Article
Divisions:Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:86320
Publisher:Taylor & Francis


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