IDEAS home Printed from https://ideas.repec.org/a/spt/apfiba/v5y2015i4f5_4_5.html
   My bibliography  Save this article

Do Crude Petroleum Imports Affect GDP of Turkey?

Author

Listed:
  • Meliha Ener
  • Cüneyt Kɪlɪç
  • Feyza Balan

Abstract

This study examines the dynamic linkages between crude petroleum imports and GDP of Turkey. The vector autoregression analysis is carried on quarterly data for the period 1998Q1 to 2013Q2. This study utilized the generalized approach to forecast error variance decomposition and impulse response analysis which have many advantages against the traditional orthogonalized approach. The empirical results suggest that petroleum imports have positive impact on GDP until the second quarter. But, after the second quarter crude petroleum imports have negative impact on GDP. The results of the Granger causality test showed that crude petroleum imports granger caused GDP at 5% significance level, but not vice versa. Moreover, the generalized variance decomposition analysis exerted that the imports of crude petroleum shocks have only a small effect on GDP initially. However, after eighth quarters, the imports of crude petroleum shocks explain 31.7 pct. of the GDP, whereas 26.46 pct. of the variation in imports of crude petroleum shocks is explained by GDP shocks.

Suggested Citation

  • Meliha Ener & Cüneyt Kɪlɪç & Feyza Balan, 2015. "Do Crude Petroleum Imports Affect GDP of Turkey?," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 5(4), pages 1-5.
    • Handle: RePEc:spt:apfiba:v:5:y:2015:i:4:f:5_4_5
    as

    Download full text from publisher

    File URL: http://www.scienpress.com/Upload/JAFB%2fVol%205_4_5.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spt:apfiba:v:5:y:2015:i:4:f:5_4_5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eleftherios Spyromitros-Xioufis (email available below). General contact details of provider: http://www.scienpress.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.