Abstract
For a country, energy is one of the most important inputs in terms of economic and social development. Therefore, it is extremely important to have a sustainable energy policy and to ensure price stability in a market environment. In this context, this study examines the impact of oil price changes on inflation and industrial production for a net oil importer country and net oil exporter country by dependency relationship between Turkey and Russia. The impact of energy price changes is analysed for Turkey and Russia for the period 1995:01-2014:12 with monthly data by using the SVAR method. The findings suggest that energy price changes affect inflation and industrial production in both countries. http://dx.doi.org/10.17130/10.17130/ijmeb.2016.12.27.1072
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