Impact of Oil Exports on Imports of Food and Agricultural Products

Authors

  • Sugra Ingilab Humbatova Economy and Management Department, International Centre of Graduate Education (ICGE), Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan
  • Mubariz Mammadli Malik World Economy” Department, Baku Engineering University (BEU), Baku, Azerbaijan; & Agrarian Research Center, Ministry of Agriculture of Azerbaijan, Azerbaijan.
  • Jabrayil Khalil Valiyev Economy and Management Department, International Centre of Graduate Education (ICGE), Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan
  • Natig Gadim‒Oglu Hajiev Regulation of Economy Department, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku, AZ1001, Azerbaijan; & Agrarian Research Ministry of Agriculture of Azerbaijan, Azerbaijan.

DOI:

https://doi.org/10.32479/ijeep.12878

Keywords:

oil export, FMOLS, DOLS, CCR, impact food, impact agricultural products, Engle–Granger, ARDL

Abstract

This research reveals the impact of oil export on some food and agricultural products from January 2013 to August 2021. For this purpose, we used ARDL model to evaluate short −term and long−term relations between variables. Moreover, we also used FMOLS and DOLS dynamic models as well as CCR canonic cointegration regression model to get reliable data from the empirical research. The outcomes confirm the existence of cointegration among the variables. ARDL unveils that oil export has a positive impact on some food and agricultural products in a long term. Besides, the positive relations between the growth of food −agrarian products and oil export show the importance of these data for the diversification of the non −oil sector and the economy in Azerbaijan.

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Published

2022-05-18

How to Cite

Humbatova, S. I., Malik, M. M., Valiyev, J. K., & Hajiev, N. G. (2022). Impact of Oil Exports on Imports of Food and Agricultural Products. International Journal of Energy Economics and Policy, 12(3), 135–150. https://doi.org/10.32479/ijeep.12878

Issue

Vol. 12 No. 3 (2022)

Section

Articles

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