Hollanda Hastalığı: Türk Cumhuriyetleri Örneği.

Oil prices, which are effective on many variables such as production, investment, foreign trade and employment structure of countries, also have effects on foreign direct investments and foreign trade due to their effects on the real exchange rate. The essence of this phenomenon, which can be formed through some parameters such as foreign direct investments, portfolio investments and foreign aid, which causes capital flows as well as oil prices, and which is defined as the Dutch Disease in the literature, is the increase in the amount of foreign currency entering the country as a result of the profit explosion that emerged with the discovery of natural resources. The "Dutch Disease", which was first recognized by the world's countries through The Economist magazine in 1977, is the contraction of production with the flow of production factors towards the new source in a country that suddenly became rich with the discovery of a natural resource. Thus, it is the coexistence of two subsectors that expand and contract at the same time in the economy. In this study, it is aimed to determine whether there is a connection between oil prices and real exchange rates in the Turkic Republics (Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan) using panel data for the period 2000-2019. As a result of the analysis, there is no relationship between the increase in oil prices and the real exchange rate in these countries, so the finding of Dutch Disease could not be determined. [ABSTRACT FROM AUTHOR]