The Dynamic Impacts of Oil Price Shocks on Turkey’s Economic Growth
Abstract
This study mainly aims at investigating the dynamic effects of a structural crude oil volatility shock on real economic growth for Turkish economy. To estimate the volatility, exponential GARCH(p,q) model was used and to estimate the dynamic structural relationships between oil price volatility and economic growth, structural VAR model was used. Empirical results suggest that the long-run response of accumulated economic growth to a structural shock in real crude oil price volatility is points. This means that quarterly economic growth decreases by points and this finding is of strong statistical significance.
Keywords: EGARCH, SVAR, oil price volatility
To list your conference here. Please contact the administrator of this platform.
Paper submission email: JESD@iiste.org
ISSN (Paper)2222-1700 ISSN (Online)2222-2855
Please add our address "contact@iiste.org" into your email contact list.
This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.
Copyright © www.iiste.org