The Effect of Oil Consumption on Economic Growth in Turkey

  • PATA U
  • TERZİ H
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Abstract

This study investigates the causality link between economic growth and oil consumption using annual data over the years of 1974-2014 by using causality tests and the Engle-Granger and Gregory-Hansen co-integration models for the Turkish economy. The empirical findings support the view that there is no long term co-integration between the level of economic growth and oil consumption level. However, the UVAR, TYVAR and Hsiao's Granger causality tests in the short term show that a positive one-way causality is going from the oil consumption level to the economic growth rate, and oil consumption level stimulates economic growth rate.

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PATA, U. K., & TERZİ, H. (2016). The Effect of Oil Consumption on Economic Growth in Turkey. Doğuş Üniversitesi Dergisi, 2(17), 225–240. https://doi.org/10.31671/dogus.2018.53

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