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The Effects of Oil Price on Turkish Economic Growth

Author

Listed:
  • Ay?en Edirneligil

    (Selcuk University)

  • Mehmet Mucuk

    (Selcuk University)

Abstract

Although the oil price is determined by demand and supply, it is also affected by lots of variables such as economic, political and technical conditions. On the other hand, fluctuations in oil price have also effect on macroeconomic stability. Oil price has an important role in Turkey, since Turkey is a country that has external dependency in energy sources. The purpose of this paper is to examine the effects of oil prices on Turkish economic growth. In this respect, the relationship between variables will be analyzed by using annual data between the years 1980-2013. For analyzing variables, it will be used Johansen Cointegration Test, Impulse-Response Function, and Variance Decomposition tests.

Suggested Citation

  • Ay?en Edirneligil & Mehmet Mucuk, 2014. "The Effects of Oil Price on Turkish Economic Growth," Proceedings of International Academic Conferences 0702083, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:0702083
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    File URL: https://iises.net/proceedings/12th-international-academic-conference-prague/table-of-content/detail?cid=7&iid=41&rid=2083
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    References listed on IDEAS

    as
    1. Narayan, Paresh Kumar & Sharma, Susan & Poon, Wai Ching & Westerlund, Joakim, 2014. "Do oil prices predict economic growth? New global evidence," Energy Economics, Elsevier, vol. 41(C), pages 137-146.
    2. Lee, Chien-Chiang & Chiu, Yi-Bin, 2011. "Nuclear energy consumption, oil prices, and economic growth: Evidence from highly industrialized countries," Energy Economics, Elsevier, vol. 33(2), pages 236-248, March.
    3. Du, Limin & Yanan, He & Wei, Chu, 2010. "The relationship between oil price shocks and China's macro-economy: An empirical analysis," Energy Policy, Elsevier, vol. 38(8), pages 4142-4151, August.
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    Cited by:

    1. Afees A. Salisu & Umar B. Ndako & Idris Adediran, 2018. "Forecasting GDP of OPEC: The role of oil price," Working Papers 044, Centre for Econometric and Allied Research, University of Ibadan.
    2. Nagmi M. Moftah Aimer, 2016. "The Effects of Fluctuations of Oil Price on Economic Growth of Libya," Energy Economics Letters, Asian Economic and Social Society, vol. 3(2), pages 17-29, December.

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    More about this item

    Keywords

    Oil price; Economic growth; Turkish Economy;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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