Investigating Economic Growth, Trade Issues and Future Energy Strategies for Central Asian Countries

Authors: Olimjon Djumabaev, Tatsuo Oyama

ABSTRACT
We examine the economic growth, energy development policies and strategies for the CAC from various perspectives. We apply statistical data analysis techniques and mathematical modelling methodologies focusing upon regression model analysis in order to deal with the economic and energy related data during the period 1990-2014, and to investigate the relationship among economic growth, energy production, and the trade of energy resources in order to find future desirable policies and strategies for the CAC. Findings show that energy production growth would bring statistically significant positive impact on GDP growth in fossil-fuel rich Kazakhstan, Uzbekistan, and Turkmenistan while we also find negative impact of GDP growth on the trade balance of the CAC except for Turkmenistan. Another finding follows that the foreign direct investment has a significant influence on the trade balance in the cases of Uzbekistan and Turkmenistan, which institute import substitution policies right from their initial years of independence. Based on these quantitative investigations on economy, energy, and trades we propose future energy strategies for the CAC, stressing the importance of diversification of economies.

Source:

Journal: American Journal of Operations Research
DOI: ajor.2018.86028(PDF)
Paper Id: 88919 (metadata)

See also: Comments to Paper

About scirp

(SCIRP: http://www.scirp.org) is an academic publisher of open access journals. It also publishes academic books and conference proceedings. SCIRP currently has more than 200 open access journals in the areas of science, technology and medicine. Readers can download papers for free and enjoy reuse rights based on a Creative Commons license. Authors hold copyright with no restrictions. SCIRP calculates different metrics on article and journal level. Citations of published papers are shown based on Google Scholar and CrossRef. Most of our journals have been indexed by several world class databases. All papers are archived by PORTICO to guarantee their availability for centuries to come.
This entry was posted in AJOR. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *