Impact of Oil Exports on Imports of Food and Agricultural Products

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Humbatova S., Malik M. M., Khalil V. J., Hajiyev N. G.

International Journal of Energy Economics and Policy, vol.12, no.3, pp.135-150, 2022 (Scopus) identifier

  • Publication Type: Article / Article
  • Volume: 12 Issue: 3
  • Publication Date: 2022
  • Doi Number: 10.32479/ijeep.12878
  • Journal Name: International Journal of Energy Economics and Policy
  • Journal Indexes: Scopus, ABI/INFORM, EconLit, Directory of Open Access Journals
  • Page Numbers: pp.135-150
  • Keywords: ARDL, CCR, DOLS, Engle–Granger, FMOLS, Impact Food and Agricultural Products, Oil Export
  • Azerbaijan State University of Economics (UNEC) Affiliated: Yes

Abstract

This research reveals the impact of oil export on some food and agricultural products from January 2013 to August 2021. For this purpose, we used ARDL model to evaluate short −term and long−term relations between variables. Moreover, we also used FMOLS and DOLS dynamic models as well as CCR canonic cointegration regression model to get reliable data from the empirical research. The outcomes confirm the existence of cointegration among the variables. ARDL unveils that oil export has a positive impact on some food and agricultural products in a long term. Besides, the positive relations between the growth of food −agrarian products and oil export show the importance of these data for the diversification of the non −oil sector and the economy in Azerbaijan.