The Asymmetric Impacts of Oil Prices and Selected Macroeconomic Variables on Stock Markets: The Case of Turkey

This paper investigates the asymmetric impacts of crude oil prices and other selected macroeconomic variables on Turkish stock market for period between 2005:01-2021:06 through combination NARDL model quantile regression approach. The findings support existence cointegration prices. variations in have long run. A positive shock by 1% decreases returns 0.67%, while price declines no significant impact. Quantile regressions show that effects shocks are more visible at low levels market.