Exploring the Relationship Between Oil Prices and Economic Growth in Türkiye
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Tarih
2023
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info:eu-repo/semantics/openAccess
Özet
This study investigates the existence of a long-run relationship between economic growth and oil prices in Türkiye, using annual data for the period 1987-2019. First, the stationarity of the variables is evaluated using the Residual Augmented Least Squares (RALS) based ADF unit root test. Second, the RALS-based cointegration test is used to investigate the longrun relationship between the variables. The findings indicate that there is no long-run relationship between economic growth and oil prices in Türkiye. As a result, it is concluded that the series does not return to equilibrium in the long run and oil price shocks during the financial turmoil may affect economic growth.
Açıklama
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Bingöl Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi (Online)
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Cilt
7
Sayı
2
