The Impact of Oil Prices on Income in Azerbaijan
Oil prices in the global market have been fluctuating sharply since the end of the XX century. As oil is a predominant component that affects global indicators, it is necessary to assess by economists. Because GDP per capita, exchange rate, and total trade turnover depend on the effects of oil price...
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| Format: | Article |
| Language: | English |
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EconJournals
2022-01-01
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| Series: | International Journal of Energy Economics and Policy |
| Subjects: | |
| Online Access: | https://econjournals.com/index.php/ijeep/article/view/11937 |
| _version_ | 1828018982914883584 |
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| author | Sugra Ingilab Humbatova Natig Gadim-Ogli Hajiyev |
| author_facet | Sugra Ingilab Humbatova Natig Gadim-Ogli Hajiyev |
| author_sort | Sugra Ingilab Humbatova |
| collection | DOAJ |
| description | Oil prices in the global market have been fluctuating sharply since the end of the XX century. As oil is a predominant component that affects global indicators, it is necessary to assess by economists. Because GDP per capita, exchange rate, and total trade turnover depend on the effects of oil price shocks. This article researched the impact oil fluctuations on income from a short and long-term perspective. For the purpose of the research, Azerbaijan has been exemplified as an oil-producing country for the period of 2001m01-2021m06. Applying the empirical method, we achieved that world oil shocks affected income (in dollar) significantly in a short perspective. The recent declining oil prices make this topic more valuable to research. Moreover, as many empirical methods show asymmetric dependency, the research focused mainly on negative shocks of oil prices. |
| first_indexed | 2024-04-10T11:11:03Z |
| format | Article |
| id | doaj.art-34109a18954e42f796e2520290fc17ec |
| institution | Directory Open Access Journal |
| issn | 2146-4553 |
| language | English |
| last_indexed | 2024-04-10T11:11:03Z |
| publishDate | 2022-01-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Energy Economics and Policy |
| spelling | doaj.art-34109a18954e42f796e2520290fc17ec2023-02-15T16:19:07ZengEconJournalsInternational Journal of Energy Economics and Policy2146-45532022-01-0112110.32479/ijeep.11937The Impact of Oil Prices on Income in AzerbaijanSugra Ingilab Humbatova0Natig Gadim-Ogli Hajiyev1Department of Economy and Management, International Centre of Graduate Education, Azerbaijan State University of Economics, Baku, Azerbaijan; “World Economy” Department, Baku Engineering University, Khirdalan City, Absheron, Baku, Azerbaijan; Agrarian Research Center, Ministry of Agriculture, Azerbaijan,Department of Regulation of Economy, Azerbaijan State University of Economics, Baku, Azerbaijan; Agrarian Research Ministry of Agriculture, AzerbaijanOil prices in the global market have been fluctuating sharply since the end of the XX century. As oil is a predominant component that affects global indicators, it is necessary to assess by economists. Because GDP per capita, exchange rate, and total trade turnover depend on the effects of oil price shocks. This article researched the impact oil fluctuations on income from a short and long-term perspective. For the purpose of the research, Azerbaijan has been exemplified as an oil-producing country for the period of 2001m01-2021m06. Applying the empirical method, we achieved that world oil shocks affected income (in dollar) significantly in a short perspective. The recent declining oil prices make this topic more valuable to research. Moreover, as many empirical methods show asymmetric dependency, the research focused mainly on negative shocks of oil prices.https://econjournals.com/index.php/ijeep/article/view/11937Oil revenuesOil pricepopulation incomeEngle–GrangerARDL |
| spellingShingle | Sugra Ingilab Humbatova Natig Gadim-Ogli Hajiyev The Impact of Oil Prices on Income in Azerbaijan International Journal of Energy Economics and Policy Oil revenues Oil price population income Engle–Granger ARDL |
| title | The Impact of Oil Prices on Income in Azerbaijan |
| title_full | The Impact of Oil Prices on Income in Azerbaijan |
| title_fullStr | The Impact of Oil Prices on Income in Azerbaijan |
| title_full_unstemmed | The Impact of Oil Prices on Income in Azerbaijan |
| title_short | The Impact of Oil Prices on Income in Azerbaijan |
| title_sort | impact of oil prices on income in azerbaijan |
| topic | Oil revenues Oil price population income Engle–Granger ARDL |
| url | https://econjournals.com/index.php/ijeep/article/view/11937 |
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