The Effect of Energy Production and Foreign Trade on the Economic Growth of Turkic Republics: A Study Using Panel Data Analysis Method
Ibyzhanova A. Sultanova Z. Aliyeva Z.T. Tastanbekova K. Abdibekov S.U. Mustafayeva B. Myrzabekkyzy K.
15 March 2024Econjournals
International Journal of Energy Economics and Policy
2024#14Issue 2126 - 134 pp.
This study analyzes the impact of energy production and foreign trade on the economic growth of the Turkic Republics using the Panel Data method for the period 2000-2020. Previous scientific studies have shown that many different variables impact economic growth. This study, unlike others, focuses on the effect of energy production and foreign trade volume on economic growth. The findings showed that energy production affects the economic growth of Turkic Republics. Another important finding is that the effect of foreign trade volume on economic growth is not significant when exports and imports are considered together. This is noteworthy as it shows that energy production invariably has a significant impact on the economic growth of a country. In other words, it would be a beneficial approach for a country to give importance to energy production to increase economic growth.
Economic Growth , Energy Production , Foreign Trade , Panel Regression Analysis , Turkic Republics
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Zhangir Khan West Kazakhstan Agrarian-Technical University, Uralsk, Kazakhstan
Narxoz University, Almaty, Kazakhstan
International Taraz innovative institute named after Sherhan Murtaza, Taraz, Kazakhstan
Al-Farabi Kazakh National University, Almaty, Kazakhstan
International University of Tourism and Hospitality, Turkestan, Kazakhstan
Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Zhangir Khan West Kazakhstan Agrarian-Technical University
Narxoz University
International Taraz innovative institute named after Sherhan Murtaza
Al-Farabi Kazakh National University
International University of Tourism and Hospitality
Khoja Akhmet Yassawi International Kazakh-Turkish University
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