Renewable natural resources from the view of oil dependent countries: the case of Turkey
Increases in oil prices induce various economic and political impacts, such as greater attention being given to renewable substitute alternatives. From this perspective, this study provides some descriptive statistics and univariate estimations for one of the countries that cannot meet its demand for petroleum. Biofuel, one of the examples of renewable natural resources, may have a great potential as an oil substitute. The major problem behind this potential is to find some relationships between the oil substitutes and any other related variables. The results of both comovements and the univariate GARCH analysis of some factors related with biofuel acreage may shed light on the future policy planning of the potential of renewable natural resources in the case of an oil dependent country.
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Volume (Year): 53 (2010)
Issue (Month): 6 ()
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