Publications

The FDI-CO2 Nexus From The Sustainable Development Perspective: The Case of Azerbaijan

Taylor and Francis Online

The current study explores the effect of Foreign Direct Investment (FDI) on CO2 emissions in Azerbaijan utilizing time series data spanning from 1996 to 2013. The structural time series modeling (STSM) approach is employed in empirical estimations. The STSM framework allows…

Shahriyar Mukhtarov, Shahriyar Aliyev, Jeyhun Mikayilov, Altay Ismayilov, Anar Rzayev

The FDI-CO2 Nexus From The Sustainable Development Perspective: The Case of Azerbaijan

Taylor & Francis

Jeyhun Mikayilov

Regional Heterogeneous Drivers of Electricity Demand in Saudi Arabia: Modeling Regional Residential Electricity Demand

Science Direct

Jeyhun Mikayilov, Abdulelah Darandary, Ryan Alyamani, Fakhri Hasanov, Hatem Al Atawi

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

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

Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?

MDPI

The study analyzes the impact of economic growth, carbon dioxide (CO2) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. Estimation results reveal that there…

Jeyhun Mikayilov, Shahriyar Mukhtarov, Vugar Muradov, Sugra Humbatova

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

Environmental consequences of tourism: do oil-exporting countries import more CO2 emissions?

taylor & Francis Online

The study explores the impact of international tourism on consumption-based CO2 emissions in the case of Azerbaijan for the period of 1995–2013. The results of the long-run estimations revealed that the relationship between CO2 emissions and international tourism revenues is N-shaped.…

Shahriyar Mukhtarov, Jeyhun Mikayilov, Jeyhun Mammadov, Shahriyar Aliyev

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

Elasticity Analysis of Fossil Energy Sources for Sustainable Economies: A Case of Gasoline Consumption in Turkey

MDPI

The current paper investigates the gasoline demand relationship in the case of Turkey, utilizing different econometric techniques and using quarterly data spanning from 2000Q1 to 2019Q1. The estimation results revealed that income and gasoline price are the main drivers of…

Jeyhun Mikayilov, Shahriyar Mukhtarov, Hasan Dincer, Serhat Yuksel, Ridvan Aydm

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

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

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

Re-evaluating the Environmental Impacts of Tourism: Does EKC Exist?

Springer

The study investigates the long-run impact of tourism development on ecological footprint by employing the time-varying coefficient cointegration approach (TVC), in addition to the conventional cointegration techniques in the case of Azerbaijan for the period of 1996–2014.

Jeyhun Mikayilov, Jeyhun Mammadov, Mayis Azizov, Shahriyar Mukhtarov

The impact of financial development on energy consumption: Evidence from an oil-rich economy

Energies

This paper examines the relationship between energy consumption, financial development, and economic growth in an oil-rich economy—Azerbaijan—employing cointegration techniques to the data ranging from 1992 to 2015. The results confirm the existence of a long-run relationship among the variables. Also,…

Jeyhun Mikayilov