Publications

Gasoline Demand in Saudi Arabia: Are the Price and Income Elasticities Constant?

Taylor and Francis Online

The paper investigates gasoline consumption in case of oil-exporting country applying Time-varying Coefficient Cointegration approach to the data from 1980 to 2017. Empirical estimations show that long-run income and price elasticities are not constant and are responsive to price and…

Jeyhun Mikayilov, Fred Joutz, Fakhri Hasanov

The Impact of Fiscal Policy on Non-Oil GDP in Saudi Arabia

Fakhri Hasanov, Nader AlKathiri, Saad Alshahrani, Ryan Alyamani

A clear objective of Saudi Vision 2030, the strategic roadmap for the future of the Kingdom of Saudi Arabia, is to put the non-oil sector at the heart of the country’s economic development. The vision realization programs (VRPs), such as…

Hasanov, Fakhri

AlKathiri, Nader

Alshahrani, Saad

Alyamani, Ryan

CO2 Emissions-Economic Growth Relationship Revisited: New Insights from the Time-Varying Cointegration Approach

Czech Statistical Office

One of the most discussed topics of Environmental economics is the choice of the appropriate functional form to examine the income-environmental impact relationship. Since the developing economies encounter different development stages, the use of relevant specification and technique gains special…

Jeyhun Mikayilov, Fakhri Hasanov, Nicholas Apergis

Electricity Incentives for Agriculture in Saudi Arabia. Is That Relevant to Remove Them?

Science Direct

Saudi Arabia has been implementing the domestic energy price reform (EPR) and fiscal reform since the end of 2015 under the Fiscal Balance Program (FBP), one of the key realization programs of Saudi Vision 2030 (SV2030). The EPR aims to…

Fakhri Hasanov, Sa’d Shannak

Electricity Demand Modeling in Saudi Arabia: Do Regional Differences Matter

Jeyhun Mikayilov, Fakhri Hasanov, Waheed Olagunju, Mohammad H. Al-Shehri

Energy is a pervasive input to all business and recreational activities. As such, total energy demand is an important indicator that helps explain the pattern of economic development within a country. Identifying and understanding the key determinants of electricity demand…

Mikayilov, Jeyhun

Hasanov, Fakhri

Waheed Olagunju

Mohammad H. Al-Shehri

Electricity demand modeling in Saudi Arabia: Do regional differences matter?

Science Direct

The paper examines the electricity demand behavior for Saudi Arabia, using annual data for the period of 1990–2016, at regional level. The study finds that income, price and population are the main drivers of electricity demand at regional level. Although,…

Jeyhun Mikayilov, Fakhri Hasanov, Mohammad H. Al-Shehri, Waheed Olagunju

Modeling Sectoral Employment in Saudi Arabia

Fakhri Hasanov, Jeyhun Mikayilov, Moayad H. Al-Rassasi, Mohammed Al-Abdullah, Fred Joutz, Muhammad Javid

Achieving the desired level of employment is central to macroeconomic policy. Regulators should have a better understanding of employment dynamics in order to design appropriate policies and test their impact. Healthy employment levels not only benefit household income and the production factor of firms, but also…

Hasanov, Fakhri

Mikayilov, Jeyhun

Moayad H. Al-Rassasi

Mohammed Al-Abdullah

Joutz, Fred

Javid, Muhammad

Revisiting Energy Demand Relationship: Theory and Empirical Application

MPI

In this paper, we revisit the theoretical framework for energy demand. We then use this theoretical framework to empirically model the Saudi Arabian industrial electricity demand. We show, in the case of Saudi Arabian data, that imposing parsimonious energy demand…

Fakhri Hasanov, Jeyhun Mikayilov

KGEMM: A Macroeconometric Model for Saudi Arabia

Fakhri Hasanov, Fred Joutz, Jeyhun Mikayilov

The KAPSARC Global Energy Macroeconometric Model (KGEMM), is a policy analysis tool for examining the impacts of domestic policy measures and global economic and energy shocks on the Kingdom of Saudi Arabia.

Hasanov, Fakhri

Joutz, Fred

Mikayilov, Jeyhun

Carbon Price Policies and International Competitiveness in G20 Countries

T20

A major challenge in implementing carbon pricing policies is to account for their economic outcomes. Notably, competitiveness is the key economic performance indicator to be considered. Extant theory mainly emphasizes the negative effect of carbon pricing on competitiveness; however, there…

Fakhri Hasanov, Jeyhun Mikayilov, Ryan Alyamani, Brantley Liddle, Abdulelah Darandary, Nicholas Apergis, Ceyhun Mahmudlu

The Impact of Fiscal Policy on Non-Oil GDP in Saudi Arabia

Fakhri Hasanov, Nader AlKathiri, Saad Alshahrani, Ryan Alyamani

Saudi Vision 2030 (SV2030), the strategic roadmap for the future of the Kingdom of Saudi Arabia, aims to decouple the country’s economy from its reliance on oil revenues through implementing several economic and social initiatives. The key economic goals of…

Hasanov, Fakhri

AlKathiri, Nader

Alshahrani, Saad

Alyamani, Ryan

Gasoline Demand in Saudi Arabia: Are the Price and Income Elasticities Constant?

Jeyhun Mikayilov, Fred Joutz, Fakhri Hasanov

After the drop in international oil prices in 2014, oil-exporting countries started to launch new policies to develop their economies. It is important that policymakers involved in energy and economic development understand how economic agents respond to increased energy prices…

Mikayilov, Jeyhun

Joutz, Fred

Hasanov, Fakhri

Estimating Saudi Arabia’s Regional GDP Using Satellite Nighttime Light Images

Hector G. Lopez-Ruiz, Jorge Blazquez, Fakhri Hasanov

The increasing availability of data from technologies such as mobile phones, satellites and connected devices means that there are many new possible sources of economic data. This study analyzes the potential use of nighttime light images from satellites to provide…

Lopez-Ruiz, Hector G.

Blazquez, Jorge

Hasanov, Fakhri

Residential Electricity Price Reforms: Are Different Income Groups and Regions Impacted Equally?

Ryan Alyamani, Abdulelah Darandary, Jeyhun Mikayilov, Fakhri Hasanov

The government of Saudi Arabia has successfully reduced the country’s energy intensity, helped by its establishment of the Saudi Energy Efficiency Center (SEEC) and a series of energy price reforms (EPR) that began in 2016. However, how households have responded…

Alyamani, Ryan

Darandary, Abdulelah

Mikayilov, Jeyhun

Hasanov, Fakhri

The Changing Impact of Income and Price on Gasoline Demand in Saudi Arabia

Jeyhun Mikayilov, Fred Joutz, Fakhri Hasanov

The growth path of gasoline demand, a key strategic fuel, has important implications for oil security, oil-related carbon emissions, and refinery investment (Dahl 2012). As such, understanding how fluctuations in income and gasoline prices could affect the demand for oil…

Mikayilov, Jeyhun

Joutz, Fred

Hasanov, Fakhri

Theoretical Framework for Industrial Electricity Consumption Revisited

Fakhri Hasanov

Policymakers should expect that the energy price reform in Saudi Arabia will reduce industrial electricity consumption. However, this reduction will be slight as the price effect is found to be very small. At the same time, policymakers should be aware…

Hasanov, Fakhri

How Total Factor Productivity Drives Long-Run Energy Consumption in Saudi Arabia

Fakhri Hasanov, Brantley Liddle, Carlo Andrea Bollino, Jeyhun Mikayilov

In this study, we investigate how total factor productivity (TFP), alongside income, price, and population, shapes energy consumption in the long-run in Saudi Arabia, the world’s number one oil exporter. To do so, we first estimate a production function and…

Hasanov, Fakhri

Brantley Liddle

Bollino, Carlo Andrea

Mikayilov, Jeyhun

Iran Sanctions: Implications for the Oil Market

Carlo Andrea Bollino, Brian Efird, Fakhri Hasanov, Emre Hatipoglu

United States (U.S.) Iran energy sanction waivers expired May 2, 2019. The waivers permitted eight economies (China, Greece, India, Italy, Japan, South Korea, Taiwan, and Turkey) to temporarily continue buying oil from Iran. Based on KAPSARC modeling of the political…

Bollino, Carlo Andrea

Efird, Brian

Hasanov, Fakhri

Hatipoglu, Emre

Estimating the Impact of Energy Price Reform on Saudi Arabian Intergenerational Welfare using the MEGIR-SA Model

Energy Journal

This paper investigates the intergenerational welfare impact of raising state administered retail energy prices in Saudi Arabia, an example of an oil exporting country with a fast growing population. To achieve this, we develop a dynamic model with overlapping generations (called MEGIR-SA), which…

Frederic Gonand, Fakhri Hasanov, Lester C. Hunt

The impact of international trade on CO2 emissions in oil exporting countries: Territory vs consumption emissions accounting

Energy Economics

While international trade and Carbon dioxide (CO2) emissions have been well-studied, a panel of only oil-exporting developing economies has not been considered. This paper addresses that gap by investigating the role of the trade in CO2 emissions using a panel…

Fakhri Hasanov, Jeyhun Mikayilov