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OPEC Ülkelerinde Hollanda Hastalığı: Petrol Fiyatları ve Ekonomik Büyüme İlişkisinin Ekonometrik Bir Analizi

Author

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  • Fatih YARDIMCIOĞLU
  • Ahmet GÜLMEZ

Abstract

The purpose of this paper is to investigate the long-run relationship between Oil Prices and Economic Growth in the 10 OPEC countries over the period from 1970 to 2011 by utilizing the Pedroni, Kao, Johansen Fisher panel cointegration and Canning-Pedroni causality methods if the Dutch Disease valid for OPEC countries. The cointegration test results show that there is a cointegration relationship between Oil Prices and Economic Growth in the long run. The results of Lamda-Pearson statistics indicate the long-run bilateral causality between Oil Prices and Economic Growth. It is concluded that there is a strong cointegration relationship between Oil Prices and Economic Growth and the results confirm the existence of the risk of the Dutch Disease for OPEC countries.

Suggested Citation

  • Fatih YARDIMCIOĞLU & Ahmet GÜLMEZ, 2013. "OPEC Ülkelerinde Hollanda Hastalığı: Petrol Fiyatları ve Ekonomik Büyüme İlişkisinin Ekonometrik Bir Analizi," Sosyoekonomi Journal, Sosyoekonomi Society, issue 19(19).
    • Handle: RePEc:sos:sosjrn:130106
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    Keywords

    The Dutch Disease; Oil Prices; Economic Growth; Panel Data Analysis; OPEC.;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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