AMERİKAN PAMUK VADELİ PİYASALARI VE DÖVİZİN BIST TEKSTİL DERİ SEKTÖRÜ İLE İLİŞKİSİ

By the effect of globalization, the importance that countries attach to foreign trade is increasing, and therefore every market that contributes to foreign trade is carefully examined. One of the indispensable market for both national and international economies is the textile sector. The materials used in this sector, which has a large share in foreign trade, are also economically important factors. For example, cotton plant is one of the most important input used in production processes for the textile industry. For this reason, in this work, studies are carried out on important indices that are traded on the Turkish stock market, especially with the theme of "cotton". The aim of this study is to reveal the cointegration and causality relations of BIST Textile Leather (XTEKS) index, American Cotton Futures Markets (CTZ2) and Dollar rate using daily data between 2.1.2019-31.12.2021 with Engle Granger cointegration test and VAR Granger causality test. According to the results of the study, an Engle Granger cointegration relationship has been found between the BIST Textile Leather (XTEKS) index with the American Cotton Futures Transactions (CTZ2) and the Dollar exchange rate and it has been determined that these variables come to equilibrium and act together in the long term. According to the VAR Granger causality test related to the variables, no statistical causality relationship could be detected.