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The Effects Of Oil Prices On Turkeys Foreign Trade Relations To Azerbaijan

Author

Listed:
  • Mehmet Dikkaya

    (Kirikkale University, Faculty of Economics and Administrative Sciences, Kirikkale, Turkey)

  • Bayram Veli Doyar

    (Suleyman Demirel University, Institute of Social Sciences, Isparta, Turkey)

  • Ozgur Kanbir

    (Giresun University, Görele School of Applied Sciences Giresun, Turkey)

Abstract

Turkey is one of the most important trade partners of Azerbaijan. Also, Azerbaijans national income is highly depended on oil revenues. Hence, this study aims to investigate the effects of oil prices on Azerbaijans imports from Turkey. For this purpose, a vector autoregression (VAR) model is estimated using quarterly data on imports, GDP, exchange rate and oil prices covering 2001-2016. Among other results, we find that a shock to oil prices positively affects Azerbaijans imports from Turkey. Furthermore, changes in Azerbaijans imports from Turkey are explained by oil prices about 11%.

Suggested Citation

  • Mehmet Dikkaya & Bayram Veli Doyar & Ozgur Kanbir, "undated". "The Effects Of Oil Prices On Turkeys Foreign Trade Relations To Azerbaijan," Review of Socio - Economic Perspectives 201833, Reviewsep.
    • Handle: RePEc:aly:journl:201833
    DOI: https://doi.org/10.19275/RSEP057
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Oil prices; foreign trade; Azerbaijan; VAR model;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • F10 - International Economics - - Trade - - - General
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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