IDEAS home Printed from https://ideas.repec.org/a/eco/journ2/2024-03-8.html
   My bibliography  Save this article

The Relationship between Energy Consumption, Agricultural and Industrial Production, and Economic Growth: ARDL Border Value Approach in the Case of Kazakhstan

Author

Listed:
  • Saken Ualikhanovich Abdibekov

    (Al-Farabi Kazakh National University, Almaty, Kazakhstan)

  • Yelena Evgenevna Gridneva

    (Caspian Public University, Almaty, Kazakhstan)

  • Gulnar Shaimardanovna Kaliakparova

    (Caspian Public University, Almaty, Kazakhstan)

  • Nazigul Amankeldikyzy Amankeldi

    (Caspian Public University, Almaty, Kazakhstan)

  • Gulmira Amangeldiyevna Perneyeva

    (Eurasian Technological University, Almaty, Kazakhstan)

  • Bauyrzhan Susaruly Kulbay

    (Mukhtar Auezov South Kazakhstan University, Shymkent, Kazakhstan)

  • Kundyz Myrzabekkyzy

    (Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan)

Abstract

This study analyzes the impact of energy consumption and industrial and agricultural production on economic growth between 2000 and 2022 in Kazakhstan using the ARDL method. The research findings determined that all three variables affect the economic growth of Kazakhstan. Another important finding is that, within the framework of the variables included in the analysis, the model shows that after a shock, the economic structure will recover and regain its footing in a short period, such as 1.5 years. Therefore this study provides important information to Kazakh decision-makers and gives confidence in the solidity of the country's economic structure. The study employs a model that includes industrial production and agricultural production, along with energy consumption on economic growth, as only one variable (index variable). As well known, production and trade as fields of economic activity can also be taken separately. Therefore they can be included in the model separately and their individual effects on GDP can be analyzed. By carrying out studies in this manner, we can identify the determinants of the Kazakh economy and use sample applications to analyze the dynamics of economic growth in general.

Suggested Citation

  • Saken Ualikhanovich Abdibekov & Yelena Evgenevna Gridneva & Gulnar Shaimardanovna Kaliakparova & Nazigul Amankeldikyzy Amankeldi & Gulmira Amangeldiyevna Perneyeva & Bauyrzhan Susaruly Kulbay & Kundyz, 2024. "The Relationship between Energy Consumption, Agricultural and Industrial Production, and Economic Growth: ARDL Border Value Approach in the Case of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 79-86, May.
    • Handle: RePEc:eco:journ2:2024-03-8
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijeep/article/download/15844/7851
    Download Restriction: no
    File URL: https://www.econjournals.com/index.php/ijeep/article/view/15844
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Saule Bekzhanova & Gulzhanat Tayauova & Serik Akhanov & Gulnar B. Tuleshova & Artur Bolganbayev & Gulnara M. Moldogaziyeva, 2023. "The Relationship between Gold and Oil Prices and the Stock Market Returns of Kazakh Energy Companies: Comparison of the pre-COVID-19 and post-COVID-19 Periods," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 8-14, September.
    2. Tazhikul Mashirova & Karlygash Tastanbekova & Murat Nurgabylov & Gulnar Lukhmanova & Kundyz Myrzabekkyzy, 2023. "Analysis of the Relationship between the Highest Price and the Trading Volume of the Energy Company Shares in Kazakhstan with Frequency Domain Causality Method," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 22-27, July.
    3. Zhazira Taibek & Indira Kozhamkulova & Almas Kuralbayev & Bagdat K. Spanova & Kundyz Myrzabekkyzy, 2023. "Analysis of the Effect of Oil and Energy Production on Health and Education Expenditures in Kazakhstan with Autoregressive Distributed Lag Method," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 215-221, March.
    4. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    5. Sholpan Smagulova & Aigerim Yermukhanbetova & Kuralay Nurgaliyeva & Baimykhanova Sariya & Zhanymgul Baimukasheva & Almagul Manap & Gaini Koyshinova & Chulpan Akimbekova, 2023. "The Impact of Energy Production on the Introduction of ICT and the Growth of AIC in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 477-488, January.
    6. Ainur Yergazievna Yesbolova & Tolkyn Abdulova & Murat Nurgabylov & Sapargul Yessenbekova & Svetlana Turalina & Gulnara Baytaeva & Kundyz Myrzabekkyzy, 2024. "Analysis of the Effect of Renewable Energy Consumption and Industrial Production on CO2 Emissions in Turkic Republics by Panel Data Analysis Method," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 480-487, January.
    7. Gaukhar Niyetalina & Elmira Balapanova & Almas Kuralbayev & Gulnar Lukhmanova & Artur Bolganbayev, 2023. "The Relationship of Energy Generation from Fossil Fuels, Low Carbon Resources, and Renewable Resources and Inflation within the Framework of Taylor s Rule: The Case of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 9-15, July.
    8. James P. Neelankavil & Lonnie K. Stevans & Francisco L. Roman, 2012. "Correlates of economic growth in developing countries: a panel cointegration approach," International Review of Applied Economics, Taylor & Francis Journals, vol. 26(1), pages 83-96, January.
    9. Artur Bolganbayev & Kundyz Myrzabekkyzy & Sabit Baimaganbetov & Dinmukhamed Kelesbayev, 2021. "The Effect of Oil Prices on the Economic Growth of Oil Exporting Countries Bordering the Caspian Sea: Panel Data Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 11(6), pages 432-437.
    10. Imam Alam & Rahim Quazi, 2003. "Determinants of Capital Flight: An econometric case study of Bangladesh," International Review of Applied Economics, Taylor & Francis Journals, vol. 17(1), pages 85-103.
    11. Zamzagul Sultanova & Galimzhan A. Pazilov & Lyailya Baibulekova & Gulzhakhan Kassymbekova & Gulnar Lukhmanova & Gulmira Issayeva & Kundyz Myrzabekkyzy, 2024. "Comparative Analysis of the Volatility Structures of the Stock Prices of Energy Companies Traded on the Kazakhstan Stock Exchange and International Gold and Oil Prices," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 21-30, January.
    12. Muhammad Uzair Ali & Zhimin Gong & Muhammad Ubaid Ali & Xiong Wu & Chen Yao, 2021. "Fossil energy consumption, economic development, inward FDI impact on CO2 emissions in Pakistan: Testing EKC hypothesis through ARDL model," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3210-3221, July.
    13. Teymur Sarkhanov & Nigar Huseynli, 2022. "Econometric Analysis of Renewable Energy Consumption and Economic Growth: The Case of Kazakhstan and Kyrgyzstan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 163-167, November.
    14. Baltaim Sabenova & Indira Baubekova & Gulmira Issayeva & Zarema Bigeldiyeva & Artur Bolganbayev, 2023. "Comparative Analysis of Volatility Structures of Stock Index and Energy Company Returns in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 200-206, March.
    15. Narayan, Paresh Kumar & Narayan, Seema, 2005. "Estimating income and price elasticities of imports for Fiji in a cointegration framework," Economic Modelling, Elsevier, vol. 22(3), pages 423-438, May.
    16. Kundyz Myrzabekkyzy & Bektur Keneshbayev & Dina I. Razakova & Indira Kenzhebekova & Zhansulu Pirmanova, 2022. "Analysis of Causality Relationship Between the Economic Growth and the Energy Production and Technological Investments in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 123-126, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zamzagul Sultanova & Galimzhan A. Pazilov & Lyailya Baibulekova & Gulzhakhan Kassymbekova & Gulnar Lukhmanova & Gulmira Issayeva & Kundyz Myrzabekkyzy, 2024. "Comparative Analysis of the Volatility Structures of the Stock Prices of Energy Companies Traded on the Kazakhstan Stock Exchange and International Gold and Oil Prices," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 21-30, January.
    2. Gulbakhram Sartbayeva & Elmira Balapanova & Darkhan Kozhanovich Mamytkanov & Lyazat Talimova & Gulnar Lukhmanova & Kundyz Myrzabekkyzy, 2023. "The Relationship between Energy Consumption (Renewable Energy), Economic Growth and Agro-Industrial Complex in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 227-233, November.
    3. Ainur Yergazievna Yesbolova & Tolkyn Abdulova & Murat Nurgabylov & Sapargul Yessenbekova & Svetlana Turalina & Gulnara Baytaeva & Kundyz Myrzabekkyzy, 2024. "Analysis of the Effect of Renewable Energy Consumption and Industrial Production on CO2 Emissions in Turkic Republics by Panel Data Analysis Method," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 480-487, January.
    4. Saken Ualikhanovich Abdibekov & Bauyrzhan Susaruly Kulbay & Yelena Evgenevna Gridneva & Gulnar Shaimardanovna Kaliakparova & Tolendi Aripbaevich Ashimbayev & Gulmira Amangeldiyevna Perneyeva, 2023. "The Relationship between the Share of Renewable Energy in Total Energy Consumption and Economic Growth: Kazakhstan and Turkiye Comparision," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 24-30, September.
    5. Aizhan Ibyzhanova & Zamzagul Sultanova & Zhanna T. Aliyeva & Karlygash Tastanbekova & Saken Ualikhanovich Abdibekov & Bagila Mustafayeva & Kundyz Myrzabekkyzy, 2024. "The Effect of Energy Production and Foreign Trade on the Economic Growth of Turkic Republics: A Study Using Panel Data Analysis Method," International Journal of Energy Economics and Policy, Econjournals, vol. 14(2), pages 126-134, March.
    6. Gaukhar Niyetalina & Elmira Balapanova & Almas Kuralbayev & Gulnar Lukhmanova & Artur Bolganbayev, 2023. "The Relationship of Energy Generation from Fossil Fuels, Low Carbon Resources, and Renewable Resources and Inflation within the Framework of Taylor s Rule: The Case of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 9-15, July.
    7. Aina B. Aidarova & Gulshat Abdimutalipovna Zhadigerova & Ainur Abilkassym & Lyailya Abdybayevna Baibulekova & Dina B. Balabekova & Saule A. Ilasheva, 2023. "Analysis of the Relationship between Energy Consumption, Foreign Direct Investment, and Labor Force Participation by Vector Error Correction Model: The Case of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 108-114, September.
    8. Georgios Bertsatos & Plutarchos Sakellaris & Mike G. Tsionas, 2022. "Extensions of the Pesaran, Shin and Smith (2001) bounds testing procedure," Empirical Economics, Springer, vol. 62(2), pages 605-634, February.
    9. Ziramba, Emmanuel, 2008. "The demand for residential electricity in South Africa," Energy Policy, Elsevier, vol. 36(9), pages 3460-3466, September.
    10. Baharom, A.H. & Habibullah, M.S., 2008. "Crime and Income Inequality: The Case of Malaysia," MPRA Paper 11871, University Library of Munich, Germany.
    11. Paresh Kumar Narayan & Seema Narayan, 2008. "Does Military Expenditure Determine Fiji'S Exploding Debt Levels?," Defence and Peace Economics, Taylor & Francis Journals, vol. 19(1), pages 77-87.
    12. Tazhikul Mashirova & Karlygash Tastanbekova & Murat Nurgabylov & Gulnar Lukhmanova & Kundyz Myrzabekkyzy, 2023. "Analysis of the Relationship between the Highest Price and the Trading Volume of the Energy Company Shares in Kazakhstan with Frequency Domain Causality Method," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 22-27, July.
    13. Tomiwa Sunday Adebayo & Demet Beton Kalmaz, 2020. "Ongoing Debate Between Foreign Aid and Economic Growth in Nigeria: A Wavelet Analysis," Social Science Quarterly, Southwestern Social Science Association, vol. 101(5), pages 2032-2051, September.
    14. Ceyhun Haydaroglu, 2015. "The Relationship between Property Rights and Economic Growth: an Analysis of OECD and EU Countries," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 4, pages 217-239, December.
    15. Lee, Grace H.Y. & Lee, Sing Ping, 2014. "Childcare availability, fertility and female labor force participation in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 32(C), pages 71-85.
    16. Daiva Makutėnienė & Algirdas Justinas Staugaitis & Bernardas Vaznonis & Gunta Grīnberga-Zālīte, 2023. "The Relationship between Energy Consumption and Economic Growth in the Baltic Countries’ Agriculture: A Non-Linear Framework," Energies, MDPI, vol. 16(5), pages 1-22, February.
    17. Li, Sisi & Khan, Sufyan Ullah & Yao, Yao & Chen, George S. & Zhang, Lin & Salim, Ruhul & Huo, Jiaying, 2022. "Estimating the long-run crude oil demand function of China: Some new evidence and policy options," Energy Policy, Elsevier, vol. 170(C).
    18. Halil Alt ntas & Melike Kum, 2013. "Multivariate Granger Causality between Electricity Generation, Exports, Prices and Economic Growth in Turkey," International Journal of Energy Economics and Policy, Econjournals, vol. 3(Special), pages 41-51.
    19. Lau, Lin-Sea & Choong, Chee-Keong & Eng, Yoke-Kee, 2014. "Investigation of the environmental Kuznets curve for carbon emissions in Malaysia: Do foreign direct investment and trade matter?," Energy Policy, Elsevier, vol. 68(C), pages 490-497.
    20. Moutinho, Victor & Santos de Oliveira, Helena M. & Viana Espinosa de Oliveira, Henrique & Puime Guillén, Félix, 2023. "The augmented and integrative model of economic growth: Theoretical and empirical evidence from USA," Socio-Economic Planning Sciences, Elsevier, vol. 89(C).

    More about this item

    Keywords

    Kazakhstan; Energy Consumption; Agricultural Production; Industrial Production; Economic Growth; Autoregressive Distributed Lag;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ2:2024-03-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.