Oil Consumption and Economic Growth: Evidence from Turkey

  • Gelengul Kocaslan Istanbul University, Turkey
  • Veli Yilanci Istanbul University, Turkey
Keywords: 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.

Published
2011-03-08
Section
Articles