Oil Consumption and GNP Relationship In Turkey: An Empirical Study
In: Proceedings of the Conference on Human and Economic Resources
AbstractThis paper will investigate the causal relationship between oil consumption and GNP. For this purpose, we will investigate the presence of cointegration among the variables and use a vector error correction model to test causality relationship. Empirical results for Turkey over the period 1971–2003 suggest that there is cointegration relationship between GNP and oil consumption. We found no causal relationship between oil consumption and GNP in short run whereas there is a long run unidirectional causality running from GNP to oil consumption.
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This item is provided by Izmir University of Economics in its series Papers of the Annual IUE-SUNY Cortland Conference in Economics with number 200630.
oil consumption; turkey; cointegration;
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