Abstract:The present study aims to examine crude oil import demand in Turkey. The country has quite limited oil production and is dependent on foreign supply to power its growing economy. We estimate the price and income elasticities of imported crude oil for Turkey exploiting three different data sets (i.e., monthly, quarterly, and annual) to test whether data frequency matters in estimation. We employ an Auto Regressive Distributed Lag (ARDL) model which shows both short-run and long-run effects of price and income c… Show more
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