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The Relationship Between Oil Prices And Inflation In Turkish Economy: An Empirical Analysis

Author

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  • Sultan KOÇAK

    (Öğrenci/Çanakkale Onsekiz Mart Üniversitesi/TÜRKİYE)

  • Feyza BALAN

    (Çanakkale Onsekiz Mart Üniversitesi/TÜRKİYE)

  • Barış ALBAYRAK

    (Çanakkale Onsekiz Mart Üniversitesi/TÜRKİYE)

Abstract

Movements in oil prices in the globalizing world have significant impacts on economic indicators. Oil prices, which have a significant impact on the general level of prices especially in the oil-importing countries, are a determining factor for inflation that an important macroeconomic indicator. In this context, the relationship between oil prices and inflation for the period 2003: 01/2017: 02 investigated with the aid of VAR model. As a result of the analysis, a positive relationship identified between oil prices and inflation. In this case, it is understood that an increase in oil prices increased the inflation rate in the corresponding period.

Suggested Citation

  • Sultan KOÇAK & Feyza BALAN & Barış ALBAYRAK, 2017. "The Relationship Between Oil Prices And Inflation In Turkish Economy: An Empirical Analysis," JOURNAL OF LIFE ECONOMICS, Holistence Publications, vol. 4(4), pages 261-273, October.
    • Handle: RePEc:jle:journl:v:4:y:2017:i:4:p:261-273
    DOI: 10.15637/jlecon.218
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    Keywords

    Inflation Oil Prices;

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