Energy exports, globalization and economic growth: The case of South Caucasus

Chun-Ping Chang, Aziz N. Berdiev and Chien-Chiang Lee ()

Economic Modelling, 2013, vol. 33, issue C, 333-346

Abstract: We examine the effect of energy exports and globalization on economic growth using the bias-corrected least square dummy variable model in a panel of five South Caucasus countries (Azerbaijan, Armenia, Georgia, Russia and Turkey) over the period of 1990–2009. We provide evidence that higher energy exports and globalization expand economic growth. Also, we find that higher economic, political and social integrations are associated with higher growth rates. Furthermore, we find that greater energy exports contribute to higher growth rates in the course of globalization. In particular, higher energy exports lead to higher growth rates in the period of increasing economic and political integration. We therefore emphasize that energy exports, global integration, and their interaction effects are important determinants of economic growth in the South Caucasus region.

Keywords: Energy exports; Globalization; Economic growth; South Caucasus (search for similar items in EconPapers)
JEL-codes: C33 O40 Q43 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999313001582
Full text for ScienceDirect subscribers only

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:eee:ecmode:v:33:y:2013:i:c:p:333-346

DOI: 10.1016/j.econmod.2013.04.027

Access Statistics for this article

Economic Modelling is currently edited by S. Hall and P. Pauly

More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().