Effects of Oil Price Changes on Regional Real Income Per Capita in Kazakhstan: Panel Data Analysis

Sabit Baimaganbetov, Dinmukhamed Kelesbayev (), Rima Yermankulova, Bibigul Izzatullaeva and Botagoz Almukhambetova
Additional contact information
Sabit Baimaganbetov: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakstan.
Rima Yermankulova: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakstan.
Bibigul Izzatullaeva: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakstan.
Botagoz Almukhambetova: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakstan.

International Journal of Energy Economics and Policy, 2019, vol. 9, issue 4, 356-362

Abstract: The study examines the effect of Brent oil prices on the regional real per capita income in Kazakhstan by a panel data analysis of sixteen states and a quarterly time series between the years of 2008-2015. The long-term relationship between the series was examined with the help of Westerlund (2007) cointegration test. In this context, a positive and significant relationship was found between long-term oil price changes and per capita regional real income growth. In addition, causal relations between variables were investigated by Dumitrescu and Hurlin (2012) using panel Granger causality test. Empirical findings from both the co-integration and the Granger causality test show that the increase in oil prices has an important positive effect on the real income of the Kazakhstan regions.

Keywords: Kazakhstan; Oil Prices; Cross Sectional Dependence; Panel Cointegration (search for similar items in EconPapers)
JEL-codes: C23 E64 R11 (search for similar items in EconPapers)
Date: 2019
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/8081/4451 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/8081/4451 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2019-04-44

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().