Yıl 2020, Cilt 12 , Sayı 2, Sayfalar 98 - 111 2020-10-23

Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey

İ̇smail KAVAZ [1]


In this study, the price and income elasticities of Turkey’s imported crude oil demand are analysed. For this purpose, annual time series data covering the period 1970-2018 are preferred for imported crude oil, real price for crude oil and real GDP. As known, Turkey is an energy dependent country especially in fossil fuels. Therefore, estimating Turkey’s crude oil demand equations is very significant to analyse the consumption trend and the future expectations in terms of this energy resource. This study employs Harvey’s Structural Time Series Modelling Method (STSM) with the underlying energy demand trend (UEDT) concept for determining the relations among income, price and crude oil import demand. The empirical results show that the income and price elasticities of crude oil demand in Turkey are 0.66 and -0.11, respectively. The estimated elasticities suggest that income and price elasticities for the imported crude oil demand are inelastic.
Crude Oil Import Demand, Elasticity Estimates, Turkey
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Birincil Dil en
Konular İktisat
Bölüm Makaleler
Yazarlar

Orcid: 0000-0002-3044-795X
Yazar: İ̇smail KAVAZ (Sorumlu Yazar)
Kurum: BİNGÖL ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ
Ülke: Turkey


Tarihler

Yayımlanma Tarihi : 23 Ekim 2020

Bibtex @araştırma makalesi { ier754989, journal = {International Econometric Review}, issn = {1308-8793}, eissn = {1308-8815}, address = {Şairler Sokak, No:32/C, Gaziosmanpaşa, Ankara}, publisher = {Ekonometrik Araştırmalar Derneği}, year = {2020}, volume = {12}, pages = {98 - 111}, doi = {10.33818/ier.754989}, title = {Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey}, key = {cite}, author = {Kavaz, İ̇smail} }
APA Kavaz, İ . (2020). Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey . International Econometric Review , 12 (2) , 98-111 . DOI: 10.33818/ier.754989
MLA Kavaz, İ . "Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey" . International Econometric Review 12 (2020 ): 98-111 <https://dergipark.org.tr/tr/pub/ier/issue/57382/754989>
Chicago Kavaz, İ . "Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey". International Econometric Review 12 (2020 ): 98-111
RIS TY - JOUR T1 - Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey AU - İ̇smail Kavaz Y1 - 2020 PY - 2020 N1 - doi: 10.33818/ier.754989 DO - 10.33818/ier.754989 T2 - International Econometric Review JF - Journal JO - JOR SP - 98 EP - 111 VL - 12 IS - 2 SN - 1308-8793-1308-8815 M3 - doi: 10.33818/ier.754989 UR - https://doi.org/10.33818/ier.754989 Y2 - 2020 ER -
EndNote %0 International Econometric Review Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey %A İ̇smail Kavaz %T Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey %D 2020 %J International Econometric Review %P 1308-8793-1308-8815 %V 12 %N 2 %R doi: 10.33818/ier.754989 %U 10.33818/ier.754989
ISNAD Kavaz, İ̇smail . "Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey". International Econometric Review 12 / 2 (Ekim 2020): 98-111 . https://doi.org/10.33818/ier.754989
AMA Kavaz İ . Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey. IER. 2020; 12(2): 98-111.
Vancouver Kavaz İ . Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey. International Econometric Review. 2020; 12(2): 98-111.
IEEE İ. Kavaz , "Estimating the Price and Income Elasticities of Crude Oil Import Demand for Turkey", International Econometric Review, c. 12, sayı. 2, ss. 98-111, Eki. 2020, doi:10.33818/ier.754989