Uneingeschränkter Zugang

A Multivariate Analysis of the Interplay between Energy Resources, Economic Growth, and Financial Stability. Evidence from Azerbaijan


Zitieren

Abutalibov, R., & Guliyev, S. M. (2013). Globalization and Social-Economic Development: Progress or Regress. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2326983 Search in Google Scholar

Ahmadov, I. (2021). Resource abundance and socio-economic shocks: COVID-19 pandemic and the State Oil Fund of Azerbaijan. In Handbook of Sustainable Politics and Economics of Natural Resources (pp. 366–375). Edward Elgar Publishing. https://doi.org/10.4337/9781789908770.00034 Search in Google Scholar

Ahmadova, E., Hamidova, L., & Hajiyeva, L. (2021). Diversification of the economy in the context of globalization (case of Azerbaijan). SHS Web of Conferences, 92(07002), 1–9. https://doi.org/10.1051/shsconf/20219207002 Search in Google Scholar

Akbulaev, N., & Huseynova, A. (2019). Examining the Role of Credit Volume on Economic Growth: The Case of Azerbaijan. Proceedings of 37th International Scientific Conference on Economic and Social Development" Socio Economic Problems of Sustainable Development", 14–15. Retrieved from: https://ssrn.com/abstract=3487591 Search in Google Scholar

Armstrong, J. S. (1984). Forecasting by Extrapolation: Conclusions from 25 Years of Research. Interfaces, 14(6), 52–66. https://doi.org/10.1287/inte.14.6.52 Search in Google Scholar

Armstrong, J. S. (1988). Research needs in forecasting. International Journal of Forecasting, 4(3), 449–465. https://doi.org/10.1016/0169-2070(88)90111-2 Search in Google Scholar

Armstrong, J. S. (2001). Evaluating Forecasting Methods. International Series in Operations Research & Management Science, 443–472. https://doi.org/10.1007/978-0-306-47630-3_20 Search in Google Scholar

Azakov, S. I. (2018). Contribution of Azerbaijan to the energy security of the European Union. IOP Conference Series, 459(012011), 1–13. https://doi.org/10.1088/1757-899x/459/1/012011 Search in Google Scholar

Azimov, A. (2021). European Energy Policy and the EU - Azerbaijan Energy Cooperation. Journal of Comparative Politics, 14(1), 71–90. Search in Google Scholar

Bilgin, M. (2011). Scenarios on European energy security: Outcomes of natural gas strategy in 2020. Futures, 43(10), 1082–1090. https://doi.org/10.1016/j.futures.2011.07.007 Search in Google Scholar

Bocse, A.-M. (2018). EU Energy Diplomacy: Searching for New Suppliers in Azerbaijan and Iran. Geopolitics, 24(1), 145–173. https://doi.org/10.1080/14650045.2018.1477755 Search in Google Scholar

BP. (2021). Statistical Review of World Energy. Retrieved from: https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2021-full-report.pdf Search in Google Scholar

Breusch, T. S., & Pagan, A. R. (1979). A Simple Test for Heteroscedasticity and Random Coefficient Variation. Econometrica, 47(5), 1287–1294. https://doi.org/10.2307/1911963 Search in Google Scholar

Caspian Center for Energy and Environment (2020). Azerbaijan In The Light Of Climate ChangeAnalysis. Eurasia Review. Retrieved from: https://www.eurasiareview.com/01052020-azerbaijan-in-the-light-of-climate-change-analysis/ Search in Google Scholar

Cheng, C.-L. ., Shalabh, & Garg, G. (2014). Coefficient of determination for multiple measurement error models. Journal of Multivariate Analysis, 126, 137–152. https://doi.org/10.1016/j.jmva.2014.01.006 Search in Google Scholar

Chontanawat, J., Hunt, L. C., & Pierse, R. (2008). Does energy consumption cause economic growth?: Evidence from a systematic study of over 100 countries. Journal of Policy Modelling, 30(2), 209–220. https://doi.org/10.1016/j.jpolmod.2006.10.003 Search in Google Scholar

Ciarreta, A., & Nasirov, S. (2012). Development trends in the Azerbaijan oil and gas sector: Achievements and challenges. Energy Policy, 40, 282–292. https://doi.org/10.1016/j.enpol.2011.10.002 Search in Google Scholar

Colin Cameron, A., & Windmeijer, F. A. G. (1997). An R-squared measure of goodness of fit for some common nonlinear regression models. Journal of Econometrics, 77(2), 329–342. https://doi.org/10.1016/S0304-4076(96)01818-0 Search in Google Scholar

Country Partnership Strategy: Azerbaijan. (2014). Economic development in Azerbaijan. Asian Development Bank. https://www.adb.org/sites/default/files/linked-documents/cps-aze-2014-2018-sd-02.pdf Search in Google Scholar

Dong, F., Qin, C., Zhang, X., Zhao, X., Pan, Y., Gao, Y., Zhu, J., & Li, Y. (2021). Towards Carbon Neutrality: The Impact of Renewable Energy Development on Carbon Emission Efficiency. International Journal of Environmental Research and Public Health, 18(24), 13284. https://doi.org/10.3390/ijerph182413284 Search in Google Scholar

Gurbanov, S., Nugent, J. B., & Mikayilov, J. (2017). Management of Oil Revenues: Has That of Azerbaijan Been Prudent? Economies, 5(2), 19. https://doi.org/10.3390/economies5020019 Search in Google Scholar

Hasanov, F. J., Mahmudlu, C., Deb, K., Abilov, S., & Hasanov, O. (2020). The role of Azeri natural gas in meeting European Union energy security needs. Energy Strategy Reviews, 28, 100464. https://doi.org/10.1016/j.esr.2020.100464 Search in Google Scholar

Howey, W. (2023). Azerbaijans gas exports to the EU face challenges. Economist Intelligence Unit. Retrieved from: https://www.eiu.com/n/azerbaijans-gas-exports-to-the-eu-face-challenges/ Search in Google Scholar

Humbatova, S. I., & Hajiyev, N. Q.-O. (2019). Oil Factor in Economic Development. Energies, 12(8), 1573. https://doi.org/10.3390/en12081573 Search in Google Scholar

Humbatova, S. I., Panahova, G. M., Mahammadnabi, I. M., & Hajiyev, N. G. (2023). The Impact of Azerbaijan’s Oil Strategy on Economic Growth: Analysis and Diagnosis. International Journal of Energy Economics and Policy, 13(2), 181–193. https://doi.org/10.32479/ijeep.13991 Search in Google Scholar

Huseynli, N. (2022). Econometric Analysis of the Relationships between Growth, Exports and Energy Exports in Azerbaijan. International Journal of Energy Economics and Policy, 12(2), 379–385. https://doi.org/10.32479/ijeep.12684 Search in Google Scholar

International Energy Agency. (2021). Azerbaijan 2021 Energy Policy Review. In IEA energy policy reviews. https://doi.org/10.1787/90fa056d-en Search in Google Scholar

International Energy Agency. (2023). Azerbaijan Energy Profile. In www.iea.org (pp. 3–30). International Energy Agency. Retrieved from: https://www.iea.org/reports/azerbaijan-energy-profile Search in Google Scholar

International Energy Charter. (2020). In-Depth Review of the Energy Efficiency Policy of the Republic of Azerbaijan. Retrieved from: https://www.energycharter.org/fileadmin/DocumentsMedia/IDEER/IDEER-Azerbaijan_2020.pdf Search in Google Scholar

International Trade Administration. (2022). Azerbaijan - Market Overview. Retrieved from: https://www.trade.gov/country-commercial-guides/azerbaijan-market-overview Search in Google Scholar

International Trade Administration. (2023). Azerbaijan - Energy. Retieved from: https://www.trade.gov/country-commercial-guides/azerbaijan-energy Search in Google Scholar

Jarque, C. M., & Bera, A. K. (1980). Efficient tests for normality, homoscedasticity and serial independence of regression residuals. Economics Letters, 6(3), 255–259. https://doi.org/10.1016/0165-1765(80)90024-5 Search in Google Scholar

Kissell, R., & Poserina, J. (2017). Regression Models. Optimal Sports Math, Statistics, and Fantasy, 39–67. https://doi.org/10.1016/b978-0-12-805163-4.00002-5 Search in Google Scholar

Mamadova, P., Lukyanov, M. Y., Rustamova, L. R., & Chernyavsky, S. I. (2019). Innovative and Traditional Industries in the Azerbaijan Economy: Dualism or Contradictions. Advances in Economics, Business and Management Research, 107(1), 100–103. https://doi.org/10.2991/icefb-19.2019.25 Search in Google Scholar

Mammadov, I., & Ahmadov, A. F. (2021). Financial Development and Economic Growth: Evindence from Azerbaijan. WSEAS TRANSACTIONS on BUSINESS and ECONOMICS, 18, 237–252. https://doi.org/10.37394/23207.2021.18.25 Search in Google Scholar

Maradana, R. P., Pradhan, R. P., Dash, S., Gaurav, K., Jayakumar, M., & Chatterjee, D. (2017). Does innovation promote economic growth? Evidence from European countries. Journal of Innovation and Entrepreneurship, 6(1). https://doi.org/10.1186/s13731-016-0061-9 Search in Google Scholar

Mikayilov, J. I., Galeotti, M., & Hasanov, F. J. (2018). The impact of economic growth on CO2 emissions in Azerbaijan. Journal of Cleaner Production, 197(Part 1), 1558–1572. https://doi.org/10.1016/j.jclepro.2018.06.269 Search in Google Scholar

Mukhtarov, S. (2020a). The Relationship between Financial Development and Economic Growth in Azerbaijan. Proceedings of 55th International Scientific Conference on Economic and Social Development, 496–502. Search in Google Scholar

Mukhtarov, S., Aliyev, F., Aliyev, J., & Ajayi, R. (2023). Renewable Energy Consumption and Carbon Emissions: Evidence from an Oil-Rich Economy. Sustainability, 15(1), 134. https://doi.org/10.3390/su15010134 Search in Google Scholar

Mukhtarov, S., Aliyev, S., & Zeynalov, J. (2019). The Effects of Oil Prices on Macroeconomic Variables: Evidence from Azerbaijan. International Journal of Energy Economics and Policy, 10(1), 72–80. Retrieved from: https://www.econjournals.com/index.php/ijeep/article/view/8446 Search in Google Scholar

Mukhtarov, S., Aliyev, S., Mikayilov, J. I., Ismayilov, A., & Rzayev, A. (2020b). The FDI-CO2 nexus from the sustainable development perspective: the case of Azerbaijan. International Journal of Sustainable Development & World Ecology, 28(3), 246–254. https://doi.org/10.1080/13504509.2020.1804479 Search in Google Scholar

Mukhtarov, S., Humbatova, S., Hajiyev, N. G.-O., & Aliyev, S. (2020c). The Financial Development-Renewable Energy Consumption Nexus in the Case of Azerbaijan. Energies, 13(23), 6265. https://doi.org/10.3390/en13236265 Search in Google Scholar

Mukhtarov, S., Yüksel, S., & Dinçer, H. (2022). The impact of financial development on renewable energy consumption: Evidence from Turkey. Renewable Energy, 187, 169–176. https://doi.org/10.1016/j.renene.2022.01.061 Search in Google Scholar

Muradov, A. (2021). The Importance of Natural Resources for The Azerbaijani Economy. Journal of Economics, Business & Organization Research, 3(1), 117–131. Retrieved from: https://dergipark.org.tr/en/download/article-file/1783743 Search in Google Scholar

Muradzada, I., Mammadli, E., & Akbulaev, N. (2023). European Union-Azerbaijan Relations within the Scope of Energy Security. Social Science Research Network. https://doi.org/10.2139/ssrn.4455646 Search in Google Scholar

Musayev, A., & Aliyev, K. (2017). Modelling Oil-Sector Dependency of Tax Revenues in a Resource Rich Country: Evidence from Azerbaijan. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 65(3), 1023–1029. Retrieved from: https://ssrn.com/abstract=3643329 Search in Google Scholar

Mustafayev, N. (2016). The Southern Gas Corridor: legal and regulatory developments in major gas transit pipeline projects. The Journal of World Energy Law & Business, 9(5), 370–387. https://doi.org/10.1093/jwelb/jww022 Search in Google Scholar

Ruble, I. (2017). European Union energy supply security: The benefits of natural gas imports from the Eastern Mediterranean. Energy Policy, 105, 341–353. https://doi.org/10.1016/j.enpol.2017.03.010 Search in Google Scholar

Rzayev, J., & Aliyev, F. (2023). Role of Azerbaijan in Maintaining Energy Security of Europe. Studia Wschodnioeuropejskie, 18, 58–66. Search in Google Scholar

Sapra, R. L. (2014). Using R2 with caution. Current Medicine Research and Practice, 4(3), 130–134. https://doi.org/10.1016/j.cmrp.2014.06.002 Search in Google Scholar

Statista. (2023a). Azerbaijan oil export destination. Retrieved from: https://www.statista.com/statistics/1414048/azerbaijan-oil-export-destinations/ Search in Google Scholar

Statista. (2023b). Azerbaijan: Share of economic sectors in the gross domestic product (GDP) from 2012 to 2022. Retrieved from: https://www.statista.com/statistics/457577/share-of-economic-sectors-in-the-gdp-in-azerbaijan/ Search in Google Scholar

Valiyev, N. (2023). Economic trends and prospects in developing Asia: Caucasus and Central Asia: Azerbaijan. Asian Development Bank. pp. 59-62. Search in Google Scholar

Wadhwa, R. R., & Marappa-Ganeshan, R. (2023). T Test. PubMed; StatPearls Publishing. Retrieved from: https://www.ncbi.nlm.nih.gov/books/NBK553048/ Search in Google Scholar

White, H. (1980). A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity. Econometrica, 48(4), 817. https://doi.org/10.2307/1912934 Search in Google Scholar

eISSN:
2558-9652
Sprache:
Englisch
Zeitrahmen der Veröffentlichung:
Volume Open
Fachgebiete der Zeitschrift:
Wirtschaftswissenschaften, Volkswirtschaft, andere, Betriebswirtschaft, Industrielle Chemie, Energiegewinnung und Umwandlung