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Oil and gas are the most important inputs that countries use in their production process. For this reason, changes in oil-gas prices affect economic growth, which is the most important macroeconomic performance indicator. This study aims to investigate whether the relations between the oil-gas prices index and economic growth are permanent in Turkey, covering the period 1998Q1-2019Q4. For this purpose, the relationships between variables are first examined by Granger and Toda-Yamamoto causality tests with structural breaks. Then, we analyze whether the relationships between them are permanent using frequency domain causality tests based on these two tests. There is insignificant causality relationship between the variables according to Granger and the Frequency Domain Causality Test results based on this test. However, according to the results of the Toda-Yamamoto causality test with a structural break, there is a causality relationship from oil-gas prices to economic growth. According to the results of the Frequency Domain Causality Test based on this test, the permanent effect of oil-gas prices on economic growth is approximately five years.

Abstract

Purpose The study aims to determine whether there is a bidirectional causality relationship between health expenditures and per capita income in Brazil, Russia, India, China, South Africa and Turkey (BRICS+T). Design/methodology/approach For that purpose, the 2000–2018 period data of the variables were tested with the Kónya (2006) panel causality test. Additionally, the causality relationships between public and private health expenditures and per capita income were also investigated in the study. Findings According to the analysis results, there is no statistically significant causality relationship from total health expenditures and public health expenditures to per capita income in the relevant countries. Besides, there is a unidirectional causality relationship from private health expenditures to per capita income only in Turkey. On the other hand, a unidirectional causality relationship from per capita income to total health expenditures in China, Russia, Turkey and South Africa and from per capita income to public health expenditures in India, Russia, Turkey and South Africa were determined. Consequently, a causality relationship from per capita income to private health expenditures was found out in Russia and Turkey. Originality/value The variables are tested for the first time for BRICS+T countries, vis-à-vis the period under consideration and the method used.