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

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dc.authorid0000-0002-2684-184X
dc.authorid0000-0002-2505-1985
dc.contributor.authorTok, Serife Akinci
dc.contributor.authorTarkun, Savas
dc.date.accessioned2026-02-08T15:15:09Z
dc.date.available2026-02-08T15:15:09Z
dc.date.issued2025
dc.departmentBursa Teknik Üniversitesi
dc.description.abstractThis 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.
dc.identifier.doi10.1016/j.bir.2025.01.010
dc.identifier.endpage274
dc.identifier.issn2214-8450
dc.identifier.issn2214-8469
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85215854710
dc.identifier.scopusqualityQ1
dc.identifier.startpage265
dc.identifier.urihttps://doi.org/10.1016/j.bir.2025.01.010
dc.identifier.urihttps://hdl.handle.net/20.500.12885/5631
dc.identifier.volume25
dc.identifier.wosWOS:001436126000001
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofBorsa Istanbul Review
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzWOS_KA_20260207
dc.subjectBRIC countries
dc.subjectFreight prices
dc.subjectGeneralized R2
dc.subjectVolatility
dc.subjectBDTI
dc.titleDynamic dependence between sectoral indexes of BRIC countries and the baltic dirty tanker index: An investigation using the generalized R2 approach
dc.typeArticle

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