The Fragility of Turkish Economy from the Perspective of Oil Dependency
In an emerging economy, energy is a crucial input. Turkey as an oil dependent country, the volatility of oil price might affect more than thought. In this study, the impact of oil price changes in Turkish macroeconomy has been examined. A VAR model is built by using quarterly data from the first qua...
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University of Primorska
2015-09-01
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Online Access: | http://www.fm-kp.si/zalozba/ISSN/1581-6311/13_253-266.pdf |
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doaj-4d2f53cc570e41569a3f3b6ac2a8650f2020-11-24T22:11:33ZengUniversity of PrimorskaManaging Global Transitions1581-63111854-69352015-09-01133253266The Fragility of Turkish Economy from the Perspective of Oil DependencyEren Yildiz0Merve Karacaer Ulusoy1Yildirim Beyazit University, TurkeyYildirim Beyazit University, TurkeyIn an emerging economy, energy is a crucial input. Turkey as an oil dependent country, the volatility of oil price might affect more than thought. In this study, the impact of oil price changes in Turkish macroeconomy has been examined. A VAR model is built by using quarterly data from the first quarter of 2003 to the first quarter of 2013. Variables used in the model are Brent oil price, gross fixed capital formation, interest rate, us GDP and inflation. We believe that the analysis has demonstrated the fragility of Turkish economy to oil price volatility with its significant results in the relationship between oil price and main macroeconomic indicators. This study also shows the incredible need of sustainable energy policies to make a country’s economy stable.http://www.fm-kp.si/zalozba/ISSN/1581-6311/13_253-266.pdfoil price shocksoil dependencyTurkeymacroeconomyvector auto regressive modelgross fixed capital formationinflationinterest rate |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Eren Yildiz Merve Karacaer Ulusoy |
spellingShingle |
Eren Yildiz Merve Karacaer Ulusoy The Fragility of Turkish Economy from the Perspective of Oil Dependency Managing Global Transitions oil price shocks oil dependency Turkey macroeconomy vector auto regressive model gross fixed capital formation inflation interest rate |
author_facet |
Eren Yildiz Merve Karacaer Ulusoy |
author_sort |
Eren Yildiz |
title |
The Fragility of Turkish Economy from the Perspective of Oil Dependency |
title_short |
The Fragility of Turkish Economy from the Perspective of Oil Dependency |
title_full |
The Fragility of Turkish Economy from the Perspective of Oil Dependency |
title_fullStr |
The Fragility of Turkish Economy from the Perspective of Oil Dependency |
title_full_unstemmed |
The Fragility of Turkish Economy from the Perspective of Oil Dependency |
title_sort |
fragility of turkish economy from the perspective of oil dependency |
publisher |
University of Primorska |
series |
Managing Global Transitions |
issn |
1581-6311 1854-6935 |
publishDate |
2015-09-01 |
description |
In an emerging economy, energy is a crucial input. Turkey as an oil dependent country, the volatility of oil price might affect more than thought. In this study, the impact of oil price changes in Turkish macroeconomy has been examined. A VAR model is built by using quarterly data from the first quarter of 2003 to the first quarter of 2013. Variables used in the model are Brent oil price, gross fixed capital formation, interest rate, us GDP and inflation. We believe that the analysis has demonstrated the fragility of Turkish economy to oil price volatility with its significant results in the relationship between oil price and main macroeconomic indicators. This study also shows the incredible need of sustainable energy policies to make a country’s economy stable. |
topic |
oil price shocks oil dependency Turkey macroeconomy vector auto regressive model gross fixed capital formation inflation interest rate |
url |
http://www.fm-kp.si/zalozba/ISSN/1581-6311/13_253-266.pdf |
work_keys_str_mv |
AT erenyildiz thefragilityofturkisheconomyfromtheperspectiveofoildependency AT mervekaracaerulusoy thefragilityofturkisheconomyfromtheperspectiveofoildependency AT erenyildiz fragilityofturkisheconomyfromtheperspectiveofoildependency AT mervekaracaerulusoy fragilityofturkisheconomyfromtheperspectiveofoildependency |
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