301. Do oil prices affect the USD/YTL exchange rate: Evidence from Turkey
- Author
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Ilhan Ozturk, Feridun, M., Kalyoncu, H., Meslek Yüksekokulu, Ozturk, I., Faculty of Business and Economics, Cag University, Mersin, Turkey -- Feridun, M., Department of Economics, Loughborough University, Loughborough, United Kingdom -- Kalyoncu, H., Department of Economics, Nigde University, Nigde, Turkey, and 0-Belirlenecek
- Subjects
Cointegration ,Turkey ,Exchange Rate ,Granger Causality ,Oil Price - Abstract
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.
- Published
- 2008