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Entrepreneurship and Sustainability Issues Open access
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DOI 10.9770/jesi.2020.7.4(6)
Reference to this article should be made as follows:
Humbatova, S. I.; Tanriverdiev, S. M.; Mammadov, I. N.; Hajiyev, N. G. 2020. Impact of investment on GDP and non-oil GDP in Azerbaijan, Entrepreneurship and Sustainability Issues 7(4): 2645-2663. https://doi.org/10.9770/jesi.2020.7.4(6)
Received: 2019-11-12  |  Accepted: 2020-03-10  |  Published: 2020-06-30

Title

Impact of investment on GDP and non-oil GDP in Azerbaijan

Abstract

The causal relationship among, investment and growth is mixed and controversial both the oretically and empirically. There is large empirical literature which examines the investment-growth nexus. This paper examines the causal relationship among, investment and economic growth in Azerbaijan using months’ time series data from 2010-2019. Results for Augmented Dickey‒Fuller (ADF), Phillips−Perron (PP) and Kwiatkowski−Phillips−Schmidt−Shin (KPSS) unit root tests show that all variables under consideration are I(1). Result from the Auto Regressive Distributed Lag Bounds Testing (ARDLBT) indicates that there exists cointegration among gross domestic investment, gross domestic product. İnvestment have significant positive effect on economic growth of Azerbaijan both in the short-run and in the long-run.

Keywords

GDP, non-oil GDP, economic growth, investment, Auto Regressive Distributed Lag Bounds Testing (ARDLBT) approach

JEL classifications

E01 , E22 , C51

URI

http://jssidoi.org/jesi/article/545

DOI

DOI 10.9770/jesi.2020.7.4(6)

Pages

2645-2663

Funding

The research is supported by Azerbaijan State University of Economics, Azerbaijan

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Humbatova, Sugra Ingilab
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Baku Engineering University, Baku, Azerbaijan http://www.beu.edu.az
Articles by this author in: CrossRef |  Google Scholar
Tanriverdiev, Sabuhi Mileddin Ogli
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar
Mammadov, Ilgar Nariman
Presidium Council of the Unions of Appraisers of Eurasia International Association, Minsk, Belarus
Azerbaijan Appraisers Society, Baku, Azerbaijan http://aqc.az
Articles by this author in: CrossRef |  Google Scholar
Hajiyev, Natig Gadim-Oglu
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

7

Number

4

Issue date

June 2020

Issue DOI

DOI 10.9770/jesi.2020.7.4

ISSN

ISSN 2345-0282 (online)

Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

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