ENERGY PRICE SHOCKS AND DYNAMICS OF CURRENT ACCOUNT IN TURKEY: IS THIS TIME DIFFERENT?

Bige KUCUKEFE

doi:https://doi.org/10.17261/Pressacademia.2019.1097

Makale detayları

ENERGY PRICE SHOCKS AND DYNAMICS OF CURRENT ACCOUNT IN TURKEY: IS THIS TIME DIFFERENT?

Yazarlar:

Bige KUCUKEFE

Yayıncı:

PressAcademia

Ana Başlıklar:

Yönetim | Genel yönetim

Dergi:

PressAcademia Procedia 2019 Vol.9 Issue 1, pp.231-235

Belge Tipi:

Makale

Yayın Tarihi:

7/2019

Belge Dili:

İngilizce

Document ID (Org No.):

2000775623

Sıklık:

Üç Yıllık

eISSN:

2459-0762

DOI:

https://doi.org/10.17261/Pressacademia.2019.1097

Özet:

 


Purpose- In this article, we examine the link between current account and
energy prices, namely crude oil, coal and natural gas in Turkey the years
between 2005 and 2016.


Methodology- This article investigates how the
changes in the energy prices affect the current account in Turkey. For this
purpose, a Factor-Augmented Vector Auto Regression (FAVAR) model is used with
economic data from the Turkish economy and world commodity price indexes to
obtain empirical results for current account dynamics in the Turkish economy.
The impact of various factors that include crude oil prices, coal prices,
natural gas prices data have been studied by obtaining impulse response
functions. 


Findings- Natural gas prices gradually affect the current account. The
impact is permanent after a period indicating a very limited elasticity. Oil
prices have an immediate impact on the current account. Swings, in the long
run, indicate some degree of elasticity. The negative effect of coal price on
the current account deficit occurs with a significant delay.









Conclusion- We can conclude that, from all of the energy indices, the crude
oil price is the most effective on the current account.


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Makale detayları

ENERGY PRICE SHOCKS AND DYNAMICS OF CURRENT ACCOUNT IN TURKEY: IS THIS TIME DIFFERENT?

Yazarlar: Bige KUCUKEFE

Yayıncı: PressAcademia

Ana Başlıklar: Yönetim | Genel yönetim

Dergi: PressAcademia Procedia 2019 Vol.9 Issue 1, pp.231-235

Belge Tipi: Makale

Yayın Tarihi: 7/2019

Belge Dili: İngilizce

Document ID (Org No.): 2000775623

Sıklık: Üç Yıllık

eISSN: 2459-0762

DOI: https://doi.org/10.17261/Pressacademia.2019.1097

Sayı

Yazarlar:

Bige KUCUKEFE

Yayıncı:

PressAcademia

Ana Başlıklar:

Yönetim | Genel yönetim

Dergi:

PressAcademia Procedia 2019 Vol.9 Issue 1, pp.231-235

Belge Tipi:

Makale

Yayın Tarihi:

7/2019

Belge Dili:

İngilizce

Document ID (Org No.):

2000775623

Sıklık:

Üç Yıllık

eISSN:

2459-0762

DOI:

https://doi.org/10.17261/Pressacademia.2019.1097