Oil Consumption and Economic Growth: Evidence from Turkey
DOI:
https://doi.org/10.15173/esr.v17i1.519Keywords:
Economic Growth, Oil Consumption, Causality, Error Correction Model,Abstract
This paper examines the causal relationship between oil consumption and the real GDP for Turkey, using annual data covering the period 1970-2007. Our estimation results show that while oil consumption has a negative effect on economic growth in the long run, no short run relationship exists between the variables.
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