Turkey's energy import, current account deficit, economic growth relationship and evaluation of Turkey's energy policies with its close neighbors

The need for energy for many reasons throughout the history of humanity has not only remained with household consumption, but has become one of the factors of production in industrialized societies. The mechanization initiated by the Industrial Revolution, followed by technological advances and the increase in population, created the age of mechanization and especially in industrialized countries, more energy was needed. Having the characteristics of a country rich in energy resources has become an economic power. Foreign-dependent countries such as Turkey, on the other hand, have tended to pursue energy security policies, especially after the 1970 Oil Crisis. In this study, the relationship between Turkey's energy imports, current account deficit and economic growth has been examined. The time series was applied between 2000 and 2020. In the model of the study, while the current account deficit is the dependent variable, energy imports and economic growth are the independent variables. First, the Extended Dickey Fuller(ADF) unit root test was applied, the growth variable was found to be integrated and the Zivot-Andrews unit root test was preferred to decide the degree of integration. In the next step, the long- term relationship between the variables was tested with the Johansen Cointegration method. Finally, for the estimation of the cointegration vector, the Fully Modified Least Squares Method(FMOLS), followed by the Granger Causality Test, found one-way causality from energy imports and economic growth to the current account deficit.