THE EFFECTS OF OIL PRICES ON TURKEYS FOREIGN TRADE RELATIONS TO AZERBAIJAN

Mehmet Dikkaya, Bayram Veli Doyar and Ozgur Kanbir
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Mehmet Dikkaya: Kirikkale University, Faculty of Economics and Administrative Sciences, Kirikkale, Turkey
Bayram Veli Doyar: Suleyman Demirel University, Institute of Social Sciences, Isparta, Turkey
Ozgur Kanbir: Giresun University, Görele School of Applied Sciences Giresun, Turkey

Review of Socio - Economic Perspectives, 2018, vol. 3, issue 2, 153-164

Abstract: Turkey is one of the most important trade partners of Azerbaijan. Also, Azerbaijans national income is highly depended on oil revenues. Hence, this study aims to investigate the effects of oil prices on Azerbaijans imports from Turkey. For this purpose, a vector autoregression (VAR) model is estimated using quarterly data on imports, GDP, exchange rate and oil prices covering 2001-2016. Among other results, we find that a shock to oil prices positively affects Azerbaijans imports from Turkey. Furthermore, changes in Azerbaijans imports from Turkey are explained by oil prices about 11%.

Keywords: Oil prices; foreign trade; Azerbaijan; VAR model (search for similar items in EconPapers)
JEL-codes: C22 F10 Q43 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aly:journl:201833

DOI: 10.19275/RSEP057

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