Impact of Oil Factor on Consumer Market: The Case of Azerbaijan

Sugra Humbatova, Ibrahim Guliyev Gadim, Sabuhi Tanriverdiyev Mileddin and Natig Gadim-Oglu Hajiyev
Additional contact information
Sugra Humbatova: Department of Economics, UNEC/Azerbaijan State University of Economics, Azerbaijan,
Ibrahim Guliyev Gadim: Department of Public Administration and Social Innovations, UNEC/Azerbaijan State University of Economics, Azerbaijan,
Sabuhi Tanriverdiyev Mileddin: Department of Economics, UNEC/Azerbaijan State University of Economics, Azerbaijan,
Natig Gadim-Oglu Hajiyev: Department of Economics, UNEC/ Azerbaijan State University of Economics; Azerbaijan Center For Agricultural Research, Ministry of Agriculture, Baku, Azerbaijan.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 4, 202-215

Abstract: This article investigates the long -term and short -term interactions between crude oil and oil products export, and consumer market, retail trade, public catering, paid services and retail trade turnover per person of population in Azerbaijan using annual data from 1997 to 2021. In this research, the ARDL model was used to assess co -integration and short -term relationships. In addition, this study used the FMOLS, DOLS, and CCR co -integration equations to explore long -term coefficients between variables. Granger causation tests were performed, Granger causation analysis was assessed using the Wald test (short -term or weak causation, long -term causation, and both short -term and long -term causation or strong causal relationship). The study proposed 5 hypotheses regarding the impact of oil and oil products export, and consumer market, retail trade, public catering, paid services and retail trade turnover per person of population. Some of the hypotheses were generally, if not completely, justified. Based on the established models and tests carried out, there are co -integrating relationships between the variables. Model coefficients are selected according to their economic and statistical significance.

Keywords: Oil and Oil Products Export; Consumer Market; ARDLBT; DOLS; FMOLS; Granger Causation (search for similar items in EconPapers)
JEL-codes: L81 Q30 Q35 Q37 Q38 Q39 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/14428/7390 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/14428 (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:journ2:2023-04-23

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 ().