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      Oil Market Shocks and Financial Instability in Asian Countries
      Models, Data and Tools

      Oil Market Shocks and Financial Instability in Asian Countries

      Fakhri Hasanov, Leila Dagher

      There is no commodity whose interlinkages with the macroeconomy have been studied as extensively as oil, starting with Hamilton’s (1983) seminal study. Thousands of subsequent studies have examined the relationship between oil prices and various economic variables, including the stock…

      Fakhri Hasanov Hasanov, Fakhri
      Leila Dagher Dagher, Leila
      23rd November 2021
      Sectoral Investment Analysis for Saudi Arabia
      Models, Data and Tools

      Sectoral Investment Analysis for Saudi Arabia

      Muhammad Javid, Fakhri Hasanov, Carlo Andrea Bollino, Marzio Galeotti

      This study aims to investigate the determinants of short- and long-run investment behavior in Saudi Arabia for eight non-oil sectors. Saudi Arabia is currently proceeding with its historic Vision 2030 reform plan, which aims to significantly increase the private sector’s…

      Muhammad Javid Javid, Muhammad
      Fakhri Hasanov Hasanov, Fakhri
      Carlo Andrea Bollino Bollino, Carlo Andrea
      Marzio Galeotti Galeotti, Marzio
      24th August 2021
      Sectoral Employment Analysis for Saudi Arabia

      Sectoral Employment Analysis for Saudi Arabia

      Taylor & Francis Online

      This study aims to explore the impact of output and wage on labour demand in Saudi Arabia at sectoral level. We applied cointegration and equilibrium correction methods to the time-series data of 10 sectors over 1995–2016 using the demand side…

      Fakhri Hasanov, Jeyhun Mikayilov, Moayad H. Al-Rassasi, Mohammed Alabdullah

      2021
      Estimating Different Order Polynomial Logarithmic Environmental Kuznets Curves

      Estimating Different Order Polynomial Logarithmic Environmental Kuznets Curves

      Springer Link

      This paper contributes to the environmental literature by (i) demonstrating that the estimated coefficients and the statistical significance of the non-leading terms in quadratic, cubic, and quartic logarithmic environmental Kuznets curve (EKC) specifications are arbitrary and should therefore not be…

      Fakhri Hasanov, Jeyhun Mikayilov, Lester C. Hunt

      2021
      Fiscal Multipliers for Saudi Arabia Revisited
      Models, Data and Tools

      Fiscal Multipliers for Saudi Arabia Revisited

      H.E. Dr. Majid Al Moneef, Fakhri Hasanov

      Fiscal policy lies at the heart of key macroeconomic and budgetary decisions and is central to understanding the dynamics of oil rich economies. Fiscal multipliers, including spending multipliers, indicate how changes to fiscal policy can stimulate economic growth, to what…

      H.E. Dr. Majid Al Moneef H.E. Dr. Majid Al Moneef
      Fakhri Hasanov Hasanov, Fakhri
      5th October 2020
      Regional Heterogeneous Drivers of Electricity Demand in Saudi Arabia
      Models, Data and Tools

      Regional Heterogeneous Drivers of Electricity Demand in Saudi Arabia

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

      Aggregate residential electricity consumption in Saudi Arabia has increased rapidly over the past several decades, largely due to population increases and fast economic growth (SAMA 2019). The growth in electricity consumption has been driven, among other factors, by government-administered prices…

      Jeyhun Mikayilov Mikayilov, Jeyhun
      Abdulelah Darandary Darandary, Abdulelah
      Ryan Alyamani Alyamani, Ryan
      Fakhri Hasanov Hasanov, Fakhri
      Hatem Al Atawi Al Atawi, Hatem
      13th September 2020
      Gasoline Demand in Saudi Arabia: Are the Price and Income Elasticities Constant?

      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

      2020
      The Impact of Fiscal Policy on Non-Oil GDP in Saudi Arabia
      Energy and Economic Vulnerability Productivity and Economic Diversification

      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…

      Fakhri Hasanov Hasanov, Fakhri
      Nader AlKathiri AlKathiri, Nader
      Saad Alshahrani Alshahrani, Saad
      Ryan Alyamani Alyamani, Ryan
      19th July 2020
      Electricity Demand Modeling in Saudi Arabia: Do Regional Differences Matter
      Models, Data and Tools

      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…

      Jeyhun Mikayilov Mikayilov, Jeyhun
      Fakhri Hasanov Hasanov, Fakhri
      Waheed Olagunju Waheed Olagunju
      Mohammad H. Al-Shehri Mohammad H. Al-Shehri
      30th April 2020
      Electricity demand modeling in Saudi Arabia: Do regional differences matter?

      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

      2020
      Modeling Sectoral Employment in Saudi Arabia

      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…

      Fakhri Hasanov Hasanov, Fakhri
      Jeyhun Mikayilov Mikayilov, Jeyhun
      Moayad H. Al-Rassasi Moayad H. Al-Rassasi
      Mohammed Al-Abdullah Mohammed Al-Abdullah
      Fred Joutz Joutz, Fred
      Muhammad Javid Javid, Muhammad
      7th April 2020
      Revisiting Energy Demand Relationship: Theory and Empirical Application

      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

      2020
      KGEMM:  A Macroeconometric Model for Saudi Arabia
      Models, Data and Tools

      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.

      Fakhri Hasanov Hasanov, Fakhri
      Fred Joutz Joutz, Fred
      Jeyhun Mikayilov Mikayilov, Jeyhun
      13th February 2020
      Carbon Price Policies and International Competitiveness in G20 Countries

      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

      2020
      The Impact of Fiscal Policy on Non-Oil GDP in Saudi Arabia
      Energy and Economic Vulnerability Productivity and Economic Diversification

      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…

      Fakhri Hasanov Hasanov, Fakhri
      Nader AlKathiri AlKathiri, Nader
      Saad Alshahrani Alshahrani, Saad
      Ryan Alyamani Alyamani, Ryan
      16th January 2020