The Impact of Energy Consumption and Trade Openness on Economic Growth in Uzbekistan: A Vecm Approach

Gofur Halmuratov (), Qaxramon Madraximov (), Gulnoza Zakirova (), Xolilla Xolmuratov (), Shaira Djumabayeva (), Yulduz Yaqubova () and Fozil Xolmurotov ()
Additional contact information
Gofur Halmuratov: Czech University of Life Sciences Prague, Czech Republic
Qaxramon Madraximov: Mamun University, 220900, Qibla Tozabog, Khiva, Uzbekistan
Gulnoza Zakirova: Mamun University, 220900, Qibla Tozabog, Khiva, Uzbekistan
Xolilla Xolmuratov: Urgench State University, 220100, Khamid Olimjon 14, Urgench, Uzbekistan
Shaira Djumabayeva: Mamun University, 220900, Qibla Tozabog, Khiva, Uzbekistan
Yulduz Yaqubova: Mamun University, 220900, Qibla Tozabog, Khiva, Uzbekistan
Fozil Xolmurotov: Mamun University, 220900, Qibla Tozabog, Khiva, Uzbekistan

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 2, 23-31

Abstract: This study aims to study the long-term impact of energy consumption and trade openness on GDP per capita growth for the economy of Uzbekistan. The study was based on data from 1990 to 2023, and long-term relationships between variables were analyzed using VECM (Vector Error Correction Model). According to the results of the analysis, a 1 unit increase in energy consumption increased GDP per capita by 3.79 units, while a 1 unit increase in trade openness decreased GDP by 12 units. This situation shows that energy consumption is one of the main factors of the economic growth of Uzbekistan, but the negative impact of trade openness is mainly related to the high share of imports and low competitiveness of the national industry. According to the results of the analysis, to ensure the positive impact of trade openness on national economic growth, it is important to introduce policies aimed at developing national industry and improving energy efficiency. The research findings provide valuable recommendations for the effective use of energy resources for the country's economy and the revision of foreign trade policies.

Keywords: Energy Consumption; Economic Growth; Trade Openness; VECM; GDP; Import; Export (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://econjournals.com/index.php/ijeep/article/download/17550/8551 (application/pdf)

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:v:15:y:2025:i:2:id:17550

Ordering information: This journal article can be ordered from
https://econjournals.com/index.php/ijeep

DOI: 10.32479/ijeep.17550

Access Statistics for this article

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