Economic impact of oil price shocks on the Turkish economy in the coming decades: A dynamic CGE analysis

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dc.contributor.authorAydin, Levent
dc.contributor.authorAcar, Mustafa
dc.date.accessioned2020-06-25T17:51:57Z
dc.date.available2020-06-25T17:51:57Z
dc.date.issued2011
dc.departmentKırıkkale Üniversitesi
dc.descriptionAydin, Levent/0000-0001-8179-7418; Acar, Mustafa/0000-0002-7426-6747
dc.description.abstractAs a small open economy, Turkey depends on both imported oil and natural gas, importing almost two-thirds of its primary energy demand. This paper analyzes the economic effects of oil price shocks for Turkey as a small, open oil- and gas-importing country. To analyze the potential long-term effects of oil price shocks on macroeconomic variables of interest, including GDP, consumer price inflation, indirect tax revenues, trade balance, and carbon emissions, we developed TurGEM-D, a dynamic multisectoral general equilibrium model for the Turkish economy. Using TurGEM-D, we analyzed the impact of oil price shocks under three distinct scenarios: reference, high and low oil prices. The simulation results show that these oil prices have very significant effects on macro indicators and carbon emissions in the Turkish economy. (C) 2011 Elsevier Ltd. All rights reserved.en_US
dc.identifier.citationclosedAccessen_US
dc.identifier.doi10.1016/j.enpol.2010.12.051
dc.identifier.endpage1731en_US
dc.identifier.issn0301-4215
dc.identifier.issn1873-6777
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-79952106569
dc.identifier.scopusqualityQ1
dc.identifier.startpage1722en_US
dc.identifier.urihttps://doi.org/10.1016/j.enpol.2010.12.051
dc.identifier.urihttps://hdl.handle.net/20.500.12587/5037
dc.identifier.volume39en_US
dc.identifier.wosWOS:000288971100069
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier Sci Ltden_US
dc.relation.ispartofEnergy Policy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectOil price shocksen_US
dc.subjectDynamic CGEen_US
dc.subjectTurkish Economyen_US
dc.titleEconomic impact of oil price shocks on the Turkish economy in the coming decades: A dynamic CGE analysisen_US
dc.typeArticle

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