Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/1089
Title: Dependency on imported oil and its effects on current account
Authors: Yalta, Ayşe Talha
Yalta, Abdullah Talha
Keywords: current account
Turkey
bootstrap
rolling windows
oil price
Issue Date: 2017
Publisher: Taylor & Francis Inc
Source: Yalta, A. Y., & Yalta, A. T. (2017). Dependency on imported oil and its effects on current account. Energy Sources, Part B: Economics, Planning, and Policy, 12(10), 859-867.
Abstract: Oil price hikes can have disruptive effects on the current account balances of oil-importing developing countries, which largely depend on external energy sources for domestic output. Nonetheless, the relation between oil prices and current account has been analyzed only in a limited number of studies for the developing countries. This paper contributes to the literature by examining the dynamics of how oil prices impact the current account in Turkey for the period between 2004 and 2015. For this purpose, a rolling window analysis using an advanced resampling technique, namely maximum entropy bootstrap (meboot), for strongly dependent time series data was performed. The empirical results reveal that oil price fluctuations have considerable effects on Turkey's current account balance. In order to curtail the current account deficit, it is crucial that Turkey redesigns its energy policies and seeks alternative energy sources.
URI: https://doi.org/10.1080/15567249.2017.1315753
https://hdl.handle.net/20.500.11851/1089
ISSN: 1556-7249
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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