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Impact of Oil Exports on Imports of Food and Agricultural Products

Author

Listed:
  • Sugra Ingilab Humbatova

    (Economy and Management Department, International Centre of Graduate Education (ICGE), Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan)

  • Mubariz Mammadli Malik

    (World Economy Department, Baku Engineering University (BEU), Baku, Azerbaijan; & Agrarian Research Center, Ministry of Agriculture of Azerbaijan, Azerbaijan.)

  • Valiyev Jabrayil Khalil

    (Economy and Management Department, International Centre of Graduate Education (ICGE), Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan)

  • Natig Gadim-Oglu Hajiev

    (Regulation of Economy Department, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku, AZ1001, Azerbaijan; & Agrarian Research Ministry of Agriculture of Azerbaijan, Azerbaijan.)

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.

Suggested Citation

  • Sugra Ingilab Humbatova & Mubariz Mammadli Malik & Valiyev Jabrayil Khalil & Natig Gadim-Oglu Hajiev, 2022. "Impact of Oil Exports on Imports of Food and Agricultural Products," International Journal of Energy Economics and Policy, Econjournals, vol. 12(3), pages 135-150, May.
    • Handle: RePEc:eco:journ2:2022-03-14
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    References listed on IDEAS

    as
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    4. Abdulaziz Shehu & Shafii Sayuti Abdullah & Nasiru Alhaji Yau, 2019. "Asymmetric Effect of Oil Shocks on Food Prices in Nigeria: A Non Linear Autoregressive Distributed Lags Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 128-134.
    5. Azeez, Rasheed Oluwaseyi, 2018. "Oil price volatility spillover effects on food prices in Nigeria," MPRA Paper 93188, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    oil export; FMOLS; DOLS; CCR; impact food; impact agricultural products; Engle Granger; ARDL;
    All these keywords.

    JEL classification:

    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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