The Relationship between Electricity Consumption and Economic Growth: Evidence from Azerbaijan

Sugra Ingilab Humbatova, Fariz Saleh Ahmadov, lgar Zulfigar Seyfullayev and Natig Gadim-Ogli Hajiyev
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Sugra Ingilab Humbatova: Department of World Economy, Azerbaijan State University of Economics (UNEC), International Center for Graduate Education, Economy and Management Baku Engineering University (BEU),
Fariz Saleh Ahmadov: Department of Economics and Business Administration, International Center for Graduate Education, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku, AZ-1001, Azerbaijan,
lgar Zulfigar Seyfullayev: Department of Industry Economy and Management, Azerbaijan State University of Economics (UNEC), International Center for Graduate Education, Economy and Management Azerbaijan Technical University,
Natig Gadim-Ogli Hajiyev: Department Regulation of Economy, Azerbaijan State University of Economics (UNEC), AZ-1001, Baku, Azerbaijan.

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 1, 436-455

Abstract: Research examines the relations between GDP in Manat and Dollar and total electric energy consumption (1995-2017) for the last 22 years in the Republic of Azerbaijan. Besides, the relations between the electric energy consumption and the growth of GDP in these sectors were analysed. Autoregressive distributed lag model was used as a research methodology. Stationary tests of variables (ADF, PP, and KPSS) and Pairwise Granger Causality Tests were done. Stability of models was examined. Eviews_9 econometric software program was used to establish graphics and do calculations. Having analysed the research, there is a positive correlation not only in GDP and electric energy consumption but also electric energy consumption and GDP in different sectors of economy. We recommend to save electric energy.

Keywords: Electric Energy Consumption; GDP Growth; Autoregressive Distributed Lag (search for similar items in EconPapers)
JEL-codes: B2 C23 F15 O52 Q43 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (7)

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