Akademik Veri Yönetim Sistemi
5th International Conference on Economics and Finance: Sustainable Economic and Financial Development in the Aftermath of the Pandemic, İstanbul, Türkiye, 25 - 26 Mayıs 2021, ss.5
Due to the liberalization of markets with globalization, energy dependency as well as the exchange rate determines the current account deficit for open economies. Exchange rate, which is an important determining factor on many imported products, is an important factor especially in oil imports. Currency changes in the exchange rate, affects the current account deficit of oil importing countries as Turkey. Oil, being an important aspect of the energy input in the production process, Turkey has to meet energy needs through imports oil. Among the reasons for crude oil imports in the current account deficit in Turkey's economy has a significant proportion. Another factor determining the current account deficit is the exchange rate. In this study, 1990-2019 period for Turkey is examined crude oil imports, exchange rates and current account deficit with Bayer-Hanck (2012) cointegration test and Hacker-Hatemi-J. (2006) causality analysis test. Hacker and Hatemi-J (2006) causality analysis test result concluded that there is a one-way causality relationship from exchange rate to current account deficit and oil import to current account deficit.