Author(s): Mary Ä°NCÄ°YAN ERSOY**
In this study, the effects of the monetary policies implemented by the FED on the stock market index, exchange
rate and interest rate of 20 developing countries included in the MSCI index were examined with Dumitrescu and Hurlin
(2012) panel causality test using the data of the 2000:M01-2020:M09 period. In the analysis, it has been determined that
there are causality relationships from FED's interest rate to the interest rates of developing countries, and monetary base
of the FED towards stock market index and interest rate in developing countries. It has been observed that the interest
rates of the developing countries in the American continent are not affected by the interest rate of the FED. Developing
countries in Asia have been found to be more sensitive to the FED's practices, investors should pay attention to this
situation.
The Journal of International Social Research received 8982 citations as per Google Scholar report
