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The effect of oil prices on foreign trade deficit in the economics of Bulgaria

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  • Nazife Özge BEŞER

    (Agri Ibrahim Cecen University, Turkey)

Abstract

Oil takes up a significant place in global energy consumption and oil prices are notable indicators of countries’ economic performances. As a matter of course, the bigger and longerlasting the increase in oil prices, the bigger effect it has on macroeconomic variables. The present study investigates the relationship between changing oil prices and foreign trade of Bulgaria using annual data between the years 1982-2017 by means of Fourier ADF and Fourier KPSS unit root tests and Arai-Kurozumi co-integration test with a structural break. Presence of co-integration between series was concluded.

Suggested Citation

  • Nazife Özge BEŞER, 2019. "The effect of oil prices on foreign trade deficit in the economics of Bulgaria," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(620), A), pages 159-170, Autumn.
    • Handle: RePEc:agr:journl:v:xxvi:y:2019:i:3(620):p:159-170
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    References listed on IDEAS

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    5. Ralf Becker & Walter Enders & Junsoo Lee, 2006. "A Stationarity Test in the Presence of an Unknown Number of Smooth Breaks," Journal of Time Series Analysis, Wiley Blackwell, vol. 27(3), pages 381-409, May.
    6. Tamir Agmon & Arthur B. Laffer, 1978. "Trade, Payments And Adjustment: The Case Of The Oil Price Rise," Kyklos, Wiley Blackwell, vol. 31(1), pages 68-85, February.
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