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The Effect of Energy Importation from Russia on Turkey's Current Account Deficit

The Effect of Energy Importation from Russia on Turkey's Current Account Deficit

Tuna Erkılıç, Dilek Temiz Dinç, Aytaç Gökmen, Mehmet Yazıcı
Copyright: © 2019 |Volume: 8 |Issue: 4 |Pages: 18
ISSN: 2160-9659|EISSN: 2160-9667|EISBN13: 9781522568094|DOI: 10.4018/IJSEM.2019100103
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MLA

Erkılıç, Tuna, et al. "The Effect of Energy Importation from Russia on Turkey's Current Account Deficit." IJSEM vol.8, no.4 2019: pp.29-46. http://doi.org/10.4018/IJSEM.2019100103

APA

Erkılıç, T., Dinç, D. T., Gökmen, A., & Yazıcı, M. (2019). The Effect of Energy Importation from Russia on Turkey's Current Account Deficit. International Journal of Sustainable Economies Management (IJSEM), 8(4), 29-46. http://doi.org/10.4018/IJSEM.2019100103

Chicago

Erkılıç, Tuna, et al. "The Effect of Energy Importation from Russia on Turkey's Current Account Deficit," International Journal of Sustainable Economies Management (IJSEM) 8, no.4: 29-46. http://doi.org/10.4018/IJSEM.2019100103

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Abstract

Energy is a fundamental input of social and economic development of a country. Yet, some of the countries in the world are rich in terms of energy and some countries lack the necessary amount of energy they require. The Republic of Turkey is situated at the threshold of Eurasia and is close to the richest energy basins of the world in its vicinity. However, Turkey is not self-sufficient in terms of energy and in order to correspond to its increasing energy necessity, it must import energy from neighboring countries, mainly from Russia. Moreover, the aim of this study is to analyze the energy trade of Turkey with Russia and its impact on its current account deficit. In order to analyze this issue, various econometric methods are utilized in this study. With respect to this analysis, it is evident that the energy importation of Turkey from Russia leads to an increase in its current account deficit.

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