Abstract:

This study included the analysis of 16 countries that imported many oil using annual data between 1986 and 2013 (Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Russia, South Africa, South Korea, Turkey, UK and the United States). In the analysis, the panel data method was used and first was placed in the test of homogeneity test that allows to test whether the curvature rates are homogeneous or heterogeneous for each country and the test of the dependency between the horizontal cuts and the test of the horizontal cuts dependency. The panel unit was predicted with the Panel Dynamic SUR predictor after the root tests were carried out. Causability tests were subsequently applied for the variables that form the model. According to the Panel Causability Test results, the economic growth and commercial transparency, economic growth and employment rates, economic growth and fixed capital accumulation and economic growth and world oil prices have identified the bilateral Causability relationship. When researched the causal relationship between oil imports and economic growth, a one-way causal relationship from oil imports to growth was identified. Finally, between carbon dioxide emissions from oil consumption and economic growth, there was no causal relationship.

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