Econometric Analysis of the Relationships Between Growth, Exports and Energy Exports in Azerbaijan

2023

Solar energy is an inexhaustible and pollution-free energy source that plays a significant role in the sustainable provision of energy services. The main purpose of this study is to examine the potential, current situation, future strategies, and policies of solar energy, which is a renewable resource in Azerbaijan. This study is research in which qualitative methods are used and within the scope of the study, literature review, systematic approach and inductive methods were used. In the study, Azerbaijan's policy towards solar energy has been examined based on the potential sources of solar energy, the current situation and the country's future strategies. Azerbaijan is slightly behind in the production of electricity from renewable energy sources. Along with all this, the most important strategic goals for the use of renewable and alternative energy sources in Azerbaijan have been defined. Thus, by 2030, the share of renewable energy investment in the country's total energy balance to 30% has been determined as the main goal. As a result of the study, it can be said that solar energy policies will have a positive effect on the country's economy in the coming years, since Azerbaijan has a geographical location and an infrastructure system that can be delivered to the countries in need.

Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Renewable Solar Energy Resources Potential and Strategy in Azerbaijan

2023

“…Traditional energy has historically been the most popular option and is still in use today (Huseynli, 2022b). Although renewable energy sources have been put forward in recent years, energy has been produced from oil and natural gas sources for decades.…”

Section: Foreign Investment and Oil-gas Sectormentioning

confidence: 99%

“…Consumption of energy enhances living standards as well as economic growth. For the implementation of practically any direct and indirect generation, there is always an energy requirement (Huseynli, 2022a).…”

Section: Introductionmentioning

confidence: 99%

Causality Relationship between the Development of the Oil and Gas Sector and Foreign Investments

2023

In this study on Azerbaijan, which is dependent on oil, the causality relationship between economic growth, foreign investments, total capital increases in the country and oil and gas sector revenues have been examined. As a result of the analysis made using the Granger method, a row of causality relationships was obtained. The data used in the analysis were obtained from the World Bank, an important data disclosure platform. The result of the analysis made for a period from 2000 to 2020 shows the importance of the oil and gas sector in attracting foreign investments in this country. As a result of the study, a bidirectional causality relationship was obtained between economic growth and foreign investments in Azerbaijan. In other words, while attracting foreign investments to the country supports economic growth, the realization of economic growth at the same time shows its own effect on the growth of the country's economy. Namely, these variables become the Granger causality of each other. Bilateral causality relationship has also been determined between foreign investments and the incomes obtained from the total oil and gas sector. At the same time, the development of this sector makes the country more attractive for foreign investors. Increases in revenues in the oil and gas sector also have an impact on the overall capital increase in the country. In other words, this variable is the Granger cause of capital increases.

“…In addition, there has been an increase in energy demand due to historically increasing agricultural and industrial activities. A country should not only have energy and export it, but also obtain energy cheaply and minimize the damage it causes to the environment while obtaining it (Huseynli, 2022b). However, it is seen that there are price movements in the energy market on a global scale.…”

Section: Introductionmentioning

confidence: 99%

The Relationship between the Stock Price and the Energy Index: A Research on the Energy Company with the Highest Brand Value in Turkey

2022

The energy sector is one of the main drivers for the activity of other sectors. In this study, the causality between the BIST energy index values and the stock prices of Enerjisa, the energy company with the highest brand value in Turkey, in the period between January 2011 and June 2022, using the Granger causality test, was examined. Before proceeding to the Granger method, a series of necessary tests were carried out in accordance with the methodology, and appropriate lag lengths were determined. As a result of the study, a bilateral causality relationship was determined between the stock prices of Enerjisa company and the BIST energy index values. In other words, these variables become the Granger cause of each other.