Dynamic dependence between sectoral indexes of BRIC countries and the baltic dirty tanker index: An investigation using the generalized R2 approach

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE Borsa Istanbul Review Pub Date : 2025-03-01 DOI:10.1016/j.bir.2025.01.010

Şerife Akıncı Tok , Savaş Tarkun

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Abstract

This study analyzes the dynamic connectedness between the Baltic Dirty Tanker Index (BDTI) and sector indexes in the stock exchanges of the BRIC countries, focusing on the chemical, oil, and raw materials sectors. Using daily data from January 1, 2015, to September 30, 2024, the analysis reveals significant pairwise relationships, highlighting the sensitivity of these sector indexes to shipping costs. The findings indicate that during periods of heightened market volatility, the BDTI has substantial influence, especially on Russia's chemical and India's oil and gas sectors. These results suggest that geopolitical risks and market uncertainty can significantly amplify interdependence. Based on these insights, proactive policies aimed at stabilizing shipping costs and improving cooperation among the BRIC countries are recommended to mitigate the impact of unexpected increases in freight rates. This study offers valuable information for policy makers, investors, and industry representatives for strengthening risk management strategies in shipping and logistics.

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来源期刊

Borsa Istanbul Review Multiple-

CiteScore

7.60

自引率

3.80%

发文量

130

审稿时长

26 days

期刊介绍： Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations