International Conference on Eurasian Economies
29-31 August 2016 – Kaposvár, HUNGARY
Paper detail
Paper ID : 1639
Status : Paper published
Language : Turkish
Topic : Growth and Development
Presenter: Prof. Dr. Ömer Selçuk Emsen
Session : 1E Büyüme I
The Relationships among Oil Prices, Export, Employment and Economic Growth in Transition Economies with Being High Dependency on Oil Revenue
Petrol Gelirlerine Bağımlılığın Yüksek Olduğu Geçiş Ekonomilerinde Petrol Fiyatları-İhracat-İstihdam ve Ekonomik Büyüme İlişkileri
- Prof. Dr. Murat Nişancı (Erzincan University, Türkiye)
- Assoc. Prof. Dr. Ziya Çağlar Yurttançıkmaz (Atatürk University, Türkiye)
- Asst. Prof. Dr. Aslı Cansın Doker (Erzincan Binali Yildirim University, Türkiye)
- Prof. Dr. Ömer Selçuk Emsen (Atatürk University, Türkiye)
Abstract
The argument of natural resources’ curse explains that natural resource wealth of the country, leading to a kind of inertia in the economy causes “spendthrift” position. Accordingly, in the first place, the discovery of natural resources and its price rise have positive repercussions on country’s income and welfare. In the long run, obtained this easy enrichment may well lead to remain barren of other sectors and also affect negatively on diversification of national income and export in natural resource-rich countries. In this study, along with the collapse of the former eastern bloc, the functioning of the argument of natural resources’ curse in the natural resources-rich four transition economies, as the subject of descriptive study was conducted. In the literature of natural resources’ curse, with creating crowding-out effect, natural resources income might well brake to the development of other sectors. In addition, this situation is defined such that with increasing weight of defense industry among other sectors in aggregate income and employment, also not transferred to the social and physical infrastructure investment, particularly in education. In this study, it is examined whether there is oil prices sensitivity on the export, employment, public expenditure and national income in natural resource-rich transition economies. From the analysis results, it can be said that there is significant movements between oil prices and chosen variables and considering those findings, strong/powerful of natural resources’ curse is on process for chosen transition economies.
JEL codes: O40, P28, P20
Nişancı, Murat, Yurttançıkmaz, Ziya Çağlar, Doker, Aslı Cansın, Emsen, Ömer Selçuk (2016). "The Relationships among Oil Prices, Export, Employment and Economic Growth in Transition Economies with Being High Dependency on Oil Revenue" in Proceedings of International Conference of Eurasian Economies 2016, pp.752-759, Kaposvár, HUNGARY.
DOI: https://doi.org/10.36880/C07.01639
