The Effect of Energy Production and Foreign Trade on the Economic Growth of Turkic Republics: A Study Using Panel Data Analysis Method


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Authors

  • Aizhan Ibyzhanova Zhangir Khan West Kazakhstan Agrarian-Technical University, Uralsk, Kazakhstan
  • Zamzagul Sultanova Zhangir Khan West Kazakhstan Agrarian-Technical University, Uralsk, Kazakhstan
  • Zhanna T. Aliyeva Narxoz University, Almaty, Kazakhstan
  • Karlygash Tastanbekova International Taraz innovative institute named after Sherhan Murtaza, Taraz, Kazakhstan
  • Saken Ualikhanovich Abdibekov Al-Farabi Kazakh National University, Almaty, Kazakhstan
  • Bagila Mustafayeva International University of Tourism and Hospitality, Turkestan, Kazakhstan
  • Kundyz Myrzabekkyzy Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan

DOI:

https://doi.org/10.32479/ijeep.15589

Keywords:

Panel Regression Analysis, Turkic Republics, Economic Growth, Foreign Trade, Energy Production

Abstract

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.

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Published

2024-03-15

How to Cite

Ibyzhanova, A., Sultanova, Z., Aliyeva, Z. T., Tastanbekova, K., Abdibekov, S. U., Mustafayeva, B., & Myrzabekkyzy, K. (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, 14(2), 126–134. https://doi.org/10.32479/ijeep.15589

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