Effects of oil production on economic growth in Eurasian countries: Panel ARDL approach

Melike Bildirici and Fazıl Kayıkçı

Energy, 2013, vol. 49, issue C, 156-161

Abstract: This study aims at analyzing the relationship between oil production and economic growth in major oil exporting Eurasian countries; Azerbaijan, Kazakhstan, Russian Federation and Turkmenistan for 1993–2010 periods. Empirical results reveal that oil production and economic growth are cointegrated for these countries. Furthermore, there is positive bi-directional causality between oil production and economic growth both in the long run and in the short run which supports the policies about investing in energy infrastructure.

Keywords: Growth; Cointegration; Causality; Oil production (search for similar items in EconPapers)
JEL-codes: O40 Q41 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 (31)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:49:y:2013:i:c:p:156-161

DOI: 10.1016/j.energy.2012.10.047

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