کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
994219 936073 2007 7 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Short-run and long-run elasticities of import demand for crude oil in Turkey
کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی مهندسی انرژی و فناوری های برق
پیش نمایش صفحه اول مقاله
Short-run and long-run elasticities of import demand for crude oil in Turkey
چکیده انگلیسی

The aim of this study is to attempt to estimate the short-run and the long-run elasticities of demand for crude oil in Turkey by the recent autoregressive distributed lag (ARDL) bounds testing approach to cointegration. As a developing country, Turkey meets its growing demand for oil principally by foreign suppliers. Thus, the study focuses on modelling the demand for imported crude oil using annual data covering the period 1980–2005. The bounds test results reveal that a long-run cointegration relationship exists between the crude oil import and the explanatory variables: nominal price and income, but not in the model that includes real price in domestic currency. The long-run parameters are estimated through a long-run static solution of the estimated ARDL model, and then the short-run dynamics are estimated by the error correction model. The estimated models pass the diagnostic tests successfully. The findings reveal that the income and price elasticities of import demand for crude oil are inelastic both in the short run and in the long run.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Policy - Volume 35, Issue 11, November 2007, Pages 5829–5835
نویسندگان
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