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DO OIL PRICES AFFECT THE USD/YTL EXCHANGE RATE: EVIDENCE FROM TURKEY
Ilhan Ozturk
Mete Feridun
Huseyin Kalyoncu
Sažetak
This study aims at investigating the link between international oil prices and the exchange rate in the case of a small open industrial economy without oil resources – Turkey. Johansen cointegration and Granger causality tests are used to analyze the relationship between oil prices and the exchange rate in the period 1982:12-2006:5. We find that international real crude oil prices Granger cause the USD/YTL real exchange rate.
Ključne riječi
oil price; exchange rate; Granger causality; cointegration; Turkey
Hrčak ID:
25949
URI
Datum izdavanja:
30.7.2008.
Posjeta: 3.916 *