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30 th Annual Meeting of The Middle East Economic Association, Topics in Middle Eastern and African Economies
This study examines the relationship between consumer confidence and financial markets for an emerging economy, namely Turkey. We believe that in emerging markets the future is uncertain rather than risky. In such an economy, consumer confidence should be regarded as an economic indicator which derives most of its information content from past and current economic outlook. Therefore, we model consumer sentiment as a function of high frequency financial market variables such as interest rates,fatcat:5pugg7e5erh7pcdcb5um6j7dxi