The Effect of Energy Production and Foreign Trade on the Economic Growth of Turkic Republics: A Study Using Panel Data Analysis Method

Aizhan Ibyzhanova, Zamzagul Sultanova, Zhanna T. Aliyeva, Karlygash Tastanbekova, Saken Ualikhanovich Abdibekov, Bagila Mustafayeva and Kundyz Myrzabekkyzy
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Aizhan Ibyzhanova: Zhangir Khan West Kazakhstan Agrarian-Technical University, Uralsk, Kazakhstan
Zamzagul Sultanova: Zhangir Khan West Kazakhstan Agrarian-Technical University, Uralsk, Kazakhstan
Zhanna T. Aliyeva: Narxoz University, Almaty, Kazakhstan
Karlygash Tastanbekova: International Taraz innovative institute named after Sherhan Murtaza, Taraz, Kazakhstan
Saken Ualikhanovich Abdibekov: Al-Farabi Kazakh National University, Almaty, Kazakhstan
Bagila Mustafayeva: International University of Tourism and Hospitality, Turkestan, Kazakhstan
Kundyz Myrzabekkyzy: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan

International Journal of Energy Economics and Policy, 2024, vol. 14, issue 2, 126-134

Abstract: This study analyzes the impact of energy production and foreign trade on the economic growth of the Turkic Republics using the Panel Data method for the period 2000-2020. Previous scientific studies have shown that many different variables impact economic growth. This study, unlike others, focuses on the effect of energy production and foreign trade volume on economic growth. The findings showed that energy production affects the economic growth of Turkic Republics. Another important finding is that the effect of foreign trade volume on economic growth is not significant when exports and imports are considered together. This is noteworthy as it shows that energy production invariably has a significant impact on the economic growth of a country. In other words, it would be a beneficial approach for a country to give importance to energy production to increase economic growth.

Keywords: Panel Regression Analysis; Turkic Republics; Economic Growth; Foreign Trade; Energy Production (search for similar items in EconPapers)
JEL-codes: C13 C20 C22 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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