Impact of investment on GDP and non-oil GDP in Azerbaijan

Sugra Ingilab Humbatova (), Sugra Ingilab Humbatova (), Sabuhi Mileddin Ogli Tanriverdiev (), Ilgar Nariman Mammadov (), Ilgar Nariman Mammadov () and Natig Gadim-Oglu Hajiyev ()
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Sugra Ingilab Humbatova: Azerbaijan State University of Economics, Azerbaijan
Sugra Ingilab Humbatova: Baku Engineering University, Azerbaijan
Sabuhi Mileddin Ogli Tanriverdiev: Azerbaijan State University of Economics, Azerbaijan
Ilgar Nariman Mammadov: Presidium Council of the Unions of Appraisers of Eurasia International Association, Belarus
Ilgar Nariman Mammadov: Azerbaijan Appraisers Society, Azerbaijan
Natig Gadim-Oglu Hajiyev: Azerbaijan State University of Economics, Azerbaijan

Entrepreneurship and Sustainability Issues, 2020, vol. 7, issue 4, 2645-2663

Abstract: The causal relationship among, investment and growth is mixed and controversial both the oretically and empirically. There is large empirical literature which examines the investment-growth nexus. This paper examines the causal relationship among, investment and economic growth in Azerbaijan using months’ time series data from 2010-2019. Results for Augmented Dickey‒Fuller (ADF), Phillips−Perron (PP) and Kwiatkowski−Phillips−Schmidt−Shin (KPSS) unit root tests show that all variables under consideration are I(1). Result from the Auto Regressive Distributed Lag Bounds Testing (ARDLBT) indicates that there exists cointegration among gross domestic investment, gross domestic product. İnvestment have significant positive effect on economic growth of Azerbaijan both in the short-run and in the long-run.

Keywords: GDP; non-oil GDP; economic growth; investment; Auto Regressive Distributed Lag Bounds Testing (ARDLBT) approach (search for similar items in EconPapers)
JEL-codes: C51 E01 E22 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:7:y:2020:i:4:p:2645-2663

DOI: 10.9770/jesi.2020.7.4(6)

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