Safe-haven and hedging roles of precious metals for BRICS and Turkey

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dc.authorwosidGENÇYÜREK, Ahmet Galip/HSG-7716-2023
dc.authorwosidEkinci, Ramazan/HJI-3783-2023
dc.contributor.authorGencyurek, A. Galip
dc.contributor.authorEkinci, Ramazan
dc.date.accessioned2024-03-09T18:48:18Z
dc.date.available2024-03-09T18:48:18Z
dc.date.issued2023
dc.departmentİzmir Bakırçay Üniversitesien_US
dc.description.abstractThis paper investigates the role of precious metals in risk management (diversification, hedging, safe haven, leading and lagging roles) in the stock markets of BRICS-T (Brazil, Russia, India, China, South Africa, and Turkiye) countries using DCC-IGARCH-t-copula (Dynamic Con-ditional Correlation Integrated Generalized Autoregressive Conditional Heteroscedasticity -t-copula) and rolling Hong causality with daily data from the period 2015 to 2022. Our empirical findings indicate that, despite the existence of bidirectional variance causality, precious metals (gold, silver, platinum, and palladium) are effective risk management instruments, except for hedging. Moreover, to mitigate risk during the COVID-19 pandemic, investors should increase the weight in their portfolios of precious metals, except for gold. The leading role of precious metals in variance causality can help policy makers to design appropriate policies for curbing market vulnerability. Copyright & COPY; 2022 Borsa Istanbul Anonim S,irketi. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).en_US
dc.identifier.doi10.1016/j.bir.2022.10.013
dc.identifier.endpage321en_US
dc.identifier.issn2214-8450
dc.identifier.issn2214-8469
dc.identifier.issue2en_US
dc.identifier.scopus2-s2.0-85142451653en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage297en_US
dc.identifier.urihttps://doi.org/10.1016/j.bir.2022.10.013
dc.identifier.urihttps://hdl.handle.net/20.500.14034/1284
dc.identifier.volume23en_US
dc.identifier.wosWOS:001023831200001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofBorsa Istanbul Reviewen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.titleSafe-haven and hedging roles of precious metals for BRICS and Turkeyen_US
dc.typeArticleen_US

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