IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v9y2016i12p1045-d85071.html
   My bibliography  Save this article

Modeling and Forecasting Electricity Demand in Azerbaijan Using Cointegration Techniques

Author

Listed:
  • Fakhri J. Hasanov

    (King Abdullah Petroleum Studies and Research Center (KAPSARC), P.O. Box 88550, Riyadh 11672, Saudi Arabia
    Institute of Control Systems, Institute of Cybernetics, B. Vahabzade Street 9, Baku AZ1141, Azerbaijan)

  • Lester C. Hunt

    (King Abdullah Petroleum Studies and Research Center (KAPSARC), P.O. Box 88550, Riyadh 11672, Saudi Arabia
    Surrey Energy Economics Centre (SEEC), University of Surrey, Guildford, Surrey GU2 7XH, UK)

  • Ceyhun I. Mikayilov

    (Department of Economics and Administrative Sciences, Qafqaz University, H. Aliyev Street 120, Khirdalan AZ0101, Azerbaijan
    Institute for Scientific Research on Economic Reforms, 88a, Hasan Bey Zardabi Avenue, Baku AZ1011, Azerbaijan)

Abstract

Policymakers in developing and transitional economies require sound models to: (i) understand the drivers of rapidly growing energy consumption and (ii) produce forecasts of future energy demand. This paper attempts to model electricity demand in Azerbaijan and provide future forecast scenarios—as far as we are aware this is the first such attempt for Azerbaijan using a comprehensive modelling framework. Electricity consumption increased and decreased considerably in Azerbaijan from 1995 to 2013 (the period used for the empirical analysis)—it increased on average by about 4% per annum from 1995 to 2006 but decreased by about 4½% per annum from 2006 to 2010 and increased thereafter. It is therefore vital that Azerbaijani planners and policymakers understand what drives electricity demand and be able to forecast how it will grow in order to plan for future power production. However, modeling electricity demand for such a country has many challenges. Azerbaijan is rich in energy resources, consequently GDP is heavily influenced by oil prices; hence, real non-oil GDP is employed as the activity driver in this research (unlike almost all previous aggregate energy demand studies). Moreover, electricity prices are administered rather than market driven. Therefore, different cointegration and error correction techniques are employed to estimate a number of per capita electricity demand models for Azerbaijan, which are used to produce forecast scenarios for up to 2025. The resulting estimated models (in terms of coefficients, etc.) and forecasts of electricity demand for Azerbaijan in 2025 prove to be very similar; with the Business as Usual forecast ranging from about of 19½ to 21 TWh.

Suggested Citation

  • Fakhri J. Hasanov & Lester C. Hunt & Ceyhun I. Mikayilov, 2016. "Modeling and Forecasting Electricity Demand in Azerbaijan Using Cointegration Techniques," Energies, MDPI, vol. 9(12), pages 1-31, December.
  • Handle: RePEc:gam:jeners:v:9:y:2016:i:12:p:1045-:d:85071
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/9/12/1045/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/1996-1073/9/12/1045/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Park, Joon Y, 1992. "Canonical Cointegrating Regressions," Econometrica, Econometric Society, vol. 60(1), pages 119-143, January.
    2. Hunt, Lester C. & Judge, Guy & Ninomiya, Yasushi, 2003. "Underlying trends and seasonality in UK energy demand: a sectoral analysis," Energy Economics, Elsevier, vol. 25(1), pages 93-118, January.
    3. Amarawickrama, Himanshu A. & Hunt, Lester C., 2008. "Electricity demand for Sri Lanka: A time series analysis," Energy, Elsevier, vol. 33(5), pages 724-739.
    4. Bildirici, Melike E. & Kayıkçı, Fazıl, 2012. "Economic growth and electricity consumption in former Soviet Republics," Energy Economics, Elsevier, vol. 34(3), pages 747-753.
    5. Filippini, Massimo & Hunt, Lester C., 2015. "Measurement of energy efficiency based on economic foundations," Energy Economics, Elsevier, vol. 52(S1), pages 5-16.
    6. Peter C. B. Phillips & Mico Loretan, 1991. "Estimating Long-run Economic Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(3), pages 407-436.
    7. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    8. de Brouwer, Gordon & Ericsson, Neil R, 1998. "Modeling Inflation in Australia," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(4), pages 433-449, October.
    9. Clements, Michael P & Hendry, David F, 1995. "Forecasting in Cointegration Systems," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(2), pages 127-146, April-Jun.
    10. Lester C. Hunt & Guy Judge & Yasushi Ninomiya, 2003. "Modelling underlying energy demand trends," Chapters, in: Lester C. Hunt (ed.), Energy in a Competitive Market, chapter 9, Edward Elgar Publishing.
    11. Asafu-Adjaye, John, 2000. "The relationship between energy consumption, energy prices and economic growth: time series evidence from Asian developing countries," Energy Economics, Elsevier, vol. 22(6), pages 615-625, December.
    12. Gregory C. Reinsel & Sung K. Ahn, 1992. "Vector Autoregressive Models With Unit Roots And Reduced Rank Structure:Estimation. Likelihood Ratio Test, And Forecasting," Journal of Time Series Analysis, Wiley Blackwell, vol. 13(4), pages 353-375, July.
    13. Stock, James H & Watson, Mark W, 1993. "A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems," Econometrica, Econometric Society, vol. 61(4), pages 783-820, July.
    14. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    15. World Bank, 2016. "World Development Indicators 2016," World Bank Publications - Books, The World Bank Group, number 23969, December.
    16. Inder, Brett, 1993. "Estimating long-run relationships in economics : A comparison of different approaches," Journal of Econometrics, Elsevier, vol. 57(1-3), pages 53-68.
    17. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    18. Al-Faris, Abdul Razak F., 2002. "The demand for electricity in the GCC countries," Energy Policy, Elsevier, vol. 30(2), pages 117-124, January.
    19. Hasanov Fakhri, 2011. "Dutch Disease and Azerbaijan Economy," EERC Working Paper Series 11/03e, EERC Research Network, Russia and CIS.
    20. Atakhanova, Zauresh & Howie, Peter, 2007. "Electricity demand in Kazakhstan," Energy Policy, Elsevier, vol. 35(7), pages 3729-3743, July.
    21. Clements Michael P. & Hendry David F., 2008. "Economic Forecasting in a Changing World," Capitalism and Society, De Gruyter, vol. 3(2), pages 1-20, October.
    22. Paresh Kumar Narayan, 2005. "The saving and investment nexus for China: evidence from cointegration tests," Applied Economics, Taylor & Francis Journals, vol. 37(17), pages 1979-1990.
    23. Mohammed A. Al-Sahlawi, 1990. "Forecasting the Demand for Electricity in Saudi Arabia," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 119-126.
    24. Granger, C. W. J. & Newbold, Paul, 1986. "Forecasting Economic Time Series," Elsevier Monographs, Elsevier, edition 2, number 9780122951831 edited by Shell, Karl.
    25. Johansen, Soren, 1992. "Testing weak exogeneity and the order of cointegration in UK money demand data," Journal of Policy Modeling, Elsevier, vol. 14(3), pages 313-334, June.
    26. Hunt, Lester & Manning, Neil, 1989. "Energy Price- and Income-Elasticities of Demand: Some Estimates for the UK Using the Cointegration Procedure," Scottish Journal of Political Economy, Scottish Economic Society, vol. 36(2), pages 183-193, May.
    27. Narayan, Paresh Kumar & Smyth, Russell, 2009. "Multivariate granger causality between electricity consumption, exports and GDP: Evidence from a panel of Middle Eastern countries," Energy Policy, Elsevier, vol. 37(1), pages 229-236, January.
    28. Abbasinejad Hossein & Gudarzi Farahani Yazdan & Asghari Ghara Ehsan, 2012. "The relationship between energy consumption, energy prices and economic growth: case study (OPEC countries)," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 36(3), pages 272-286, September.
    29. MacKinnon, James G, 1996. "Numerical Distribution Functions for Unit Root and Cointegration Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(6), pages 601-618, Nov.-Dec..
    30. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    31. Juselius, Katarina, 2006. "The Cointegrated VAR Model: Methodology and Applications," OUP Catalogue, Oxford University Press, number 9780199285679, Decembrie.
    32. MacKinnon, James G & Haug, Alfred A & Michelis, Leo, 1999. "Numerical Distribution Functions of Likelihood Ratio Tests for Cointegration," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 14(5), pages 563-577, Sept.-Oct.
    33. Peter C. B. Phillips & Bruce E. Hansen, 1990. "Statistical Inference in Instrumental Variables Regression with I(1) Processes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(1), pages 99-125.
    34. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    35. Beenstock, Michael & Goldin, Ephraim & Nabot, Dan, 1999. "The demand for electricity in Israel," Energy Economics, Elsevier, vol. 21(2), pages 168-183, April.
    36. Saikkonen, Pentti, 1992. "Estimation and Testing of Cointegrated Systems by an Autoregressive Approximation," Econometric Theory, Cambridge University Press, vol. 8(1), pages 1-27, March.
    37. Johansen, Soren, 1992. "Cointegration in partial systems and the efficiency of single-equation analysis," Journal of Econometrics, Elsevier, vol. 52(3), pages 389-402, June.
    38. Engle, R. F. & Granger, C. W. J. (ed.), 1991. "Long-Run Economic Relationships: Readings in Cointegration," OUP Catalogue, Oxford University Press, number 9780198283393, Decembrie.
    39. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    40. Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, number 9780198774501, Decembrie.
    41. Park, Joon Y. & Phillips, Peter C.B., 1988. "Statistical Inference in Regressions with Integrated Processes: Part 1," Econometric Theory, Cambridge University Press, vol. 4(3), pages 468-497, December.
    42. Fakhri, Hasanov & Khudayar, Hasanli, 2011. "Why had the Money Market Approach been irrelevant in explaining inflation in Azerbaijan during the rapid economic growth period?," MPRA Paper 29559, University Library of Munich, Germany.
    43. Polemis, Michael. L., 2007. "Modeling industrial energy demand in Greece using cointegration techniques," Energy Policy, Elsevier, vol. 35(8), pages 4039-4050, August.
    44. Hasanov, Fakhri J. & Bulut, Cihan & Suleymanov, Elchin, 2016. "Do population age groups matter in the energy use of the oil-exporting countries?," Economic Modelling, Elsevier, vol. 54(C), pages 82-99.
    45. Bentzen, Jan & Engsted, Tom, 1993. "Short- and long-run elasticities in energy demand : A cointegration approach," Energy Economics, Elsevier, vol. 15(1), pages 9-16, January.
    46. Pourazarm, Elham & Cooray, Arusha, 2013. "Estimating and forecasting residential electricity demand in Iran," Economic Modelling, Elsevier, vol. 35(C), pages 546-558.
    47. M. Nagy Eltony & Mohammad A. Al‐Awadhi, 2007. "Residential energy demand: a case study of Kuwait," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 31(3), pages 159-168, September.
    48. Lester C. Hunt (ed.), 2003. "Energy in a Competitive Market," Books, Edward Elgar Publishing, number 2519, December.
    49. Chang, Yoosoon & Choi, Yongok & Kim, Chang Sik & Miller, J. Isaac & Park, Joon Y., 2016. "Disentangling temporal patterns in elasticities: A functional coefficient panel analysis of electricity demand," Energy Economics, Elsevier, vol. 60(C), pages 232-243.
    50. Silk, Julian I. & Joutz, Frederick L., 1997. "Short and long-run elasticities in US residential electricity demand: a co-integration approach," Energy Economics, Elsevier, vol. 19(4), pages 493-513, October.
    51. Soren Johansen, 2002. "A Small Sample Correction for the Test of Cointegrating Rank in the Vector Autoregressive Model," Econometrica, Econometric Society, vol. 70(5), pages 1929-1961, September.
    52. Mohamed Nagy Eltony & Mohammad A. Al‐Awadhi, 2007. "The commercial sector demand for energy in Kuwait," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 31(1), pages 17-26, March.
    53. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
    54. Saikkonen, Pentti, 1991. "Asymptotically Efficient Estimation of Cointegration Regressions," Econometric Theory, Cambridge University Press, vol. 7(1), pages 1-21, March.
    55. Wojciech W. Charemza & Derek F. Deadman, 1992. "New Directions In Econometric Practice," Books, Edward Elgar Publishing, number 84, December.
    56. Himanshu A. Amarawickrama & Lester C Hunt, 2004. "Sri Lankan Electricity Supply Industry: A Critique of Proposed Reforms," Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) 109, Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey.
    57. Squalli, Jay, 2007. "Electricity consumption and economic growth: Bounds and causality analyses of OPEC members," Energy Economics, Elsevier, vol. 29(6), pages 1192-1205, November.
    58. Rapanos, Vassilis T. & Polemis, Michael L., 2005. "Energy demand and environmental taxes: the case of Greece," Energy Policy, Elsevier, vol. 33(14), pages 1781-1788, September.
    59. Atalla, Tarek N. & Hunt, Lester C., 2016. "Modelling residential electricity demand in the GCC countries," Energy Economics, Elsevier, vol. 59(C), pages 149-158.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fakhri Hasanov & Jeyhun Mikayilov & Cihan Bulut & Elchin Suleymanov & Fuzuli Aliyev, 2017. "The Role of Oil Prices in Exchange Rate Movements: The CIS Oil Exporters," Economies, MDPI, vol. 5(2), pages 1-18, April.
    2. Jindamas Sutthichaimethee & Kuskana Kubaha, 2018. "Forecasting Energy-Related Carbon Dioxide Emissions in Thailand’s Construction Sector by Enriching the LS-ARIMAXi-ECM Model," Sustainability, MDPI, vol. 10(10), pages 1-19, October.
    3. Atalla, Tarek N. & Gasim, Anwar A. & Hunt, Lester C., 2018. "Gasoline demand, pricing policy, and social welfare in Saudi Arabia: A quantitative analysis," Energy Policy, Elsevier, vol. 114(C), pages 123-133.
    4. Asuamah Yeboah, Samuel, 2018. "Do government activities determine electricity consumption in Ghana? An empirical investigation," MPRA Paper 89408, University Library of Munich, Germany.
    5. Jeyhun I. Mikayilov & Fakhri J. Hasanov & Carlo A. Bollino & Ceyhun Mahmudlu, 2017. "Modeling of Electricity Demand for Azerbaijan: Time-Varying Coefficient Cointegration Approach," Energies, MDPI, vol. 10(11), pages 1-12, November.
    6. Hsiang-Hsi Liu & Chien-Kuo Tseng, 2022. "Common Components in Co-integrated System and Its Estimation and Application: Evidence from Five Stock Markets in Asia-Pacific Chinese Region," Bulletin of Applied Economics, Risk Market Journals, vol. 9(2), pages 101-121.
    7. Jeyhun I. Mikayilov & Marzio Galeotti & Fakhri J. Hasanov, 2018. "The Impact of Economic Growth on CO2 Emissions in Azerbaijan," IEFE Working Papers 102, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    8. Yanwen Wang & Song Hong & Yifei Wang & Xi Gong & Chao He & Zhendong Lu & F. Benjamin Zhan, 2019. "What is the difference in global research on Central Asia before and after the collapse of the USSR: a bibliometric analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 119(2), pages 909-930, May.
    9. Roman V. Klyuev & Irbek D. Morgoev & Angelika D. Morgoeva & Oksana A. Gavrina & Nikita V. Martyushev & Egor A. Efremenkov & Qi Mengxu, 2022. "Methods of Forecasting Electric Energy Consumption: A Literature Review," Energies, MDPI, vol. 15(23), pages 1-33, November.
    10. Amin, Sakib & Jamasb, Tooraj & Nepal, Rabindra, 2021. "Regulatory reform and the relative efficacy of government versus private investment on energy consumption in South Asia," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 421-433.
    11. Julián Pérez-García & Julián Moral-Carcedo, 2017. "Why Electricity Demand Is Highly Income-Elastic in Spain: A Cross-Country Comparison Based on an Index-Decomposition Analysis," Energies, MDPI, vol. 10(3), pages 1-20, March.
    12. Sakib Bin Amin & Noshin Nawal Audry & Ahmed Farah Ulfat, 2021. "The Nexus Between Oil Price Shock and the Exchange Rate in Bangladesh," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 427-435.
    13. Mohammad Imdadul Haque, 2020. "The Growth of Private Sector and Financial Development in Saudi Arabia," Economies, MDPI, vol. 8(2), pages 1-17, May.
    14. Francisco Martínez-Álvarez & Alicia Troncoso & José C. Riquelme, 2017. "Recent Advances in Energy Time Series Forecasting," Energies, MDPI, vol. 10(6), pages 1-3, June.
    15. Shahriyar Mukhtarov & Jeyhun I. Mikayilov & Jeyhun Mammadov & Elvin Mammadov, 2018. "The Impact of Financial Development on Energy Consumption: Evidence from an Oil-Rich Economy," Energies, MDPI, vol. 11(6), pages 1-14, June.
    16. Yuliia Matiiuk & Mykolas Simas Poškus & Genovaitė Liobikienė, 2020. "The Implementation of Climate Change Policy in Post-Soviet Countries Achieving Long-Term Targets," Sustainability, MDPI, vol. 12(11), pages 1-24, June.
    17. Jeyhun Mikayilov & Vusal Shukurov & Shahriyar Mukhtarov & Sabuhi Yusifov, 2017. "Does Urbanization Boost Pollution from Transport?," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(5), pages 1709-1718.
    18. Mikayilov, Jeyhun I. & Darandary, Abdulelah & Alyamani, Ryan & Hasanov, Fakhri J. & Alatawi, Hatem, 2020. "Regional heterogeneous drivers of electricity demand in Saudi Arabia: Modeling regional residential electricity demand," Energy Policy, Elsevier, vol. 146(C).
    19. Krzysztof Gajowniczek & Tomasz Ząbkowski, 2017. "Two-Stage Electricity Demand Modeling Using Machine Learning Algorithms," Energies, MDPI, vol. 10(10), pages 1-25, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hasanov, Fakhri J. & Shannak, Sa'd, 2020. "Electricity incentives for agriculture in Saudi Arabia. Is that relevant to remove them?," Energy Policy, Elsevier, vol. 144(C).
    2. Jeyhun I. Mikayilov & Marzio Galeotti & Fakhri J. Hasanov, 2018. "The Impact of Economic Growth on CO2 Emissions in Azerbaijan," IEFE Working Papers 102, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    3. Hasanov, Fakhri & Huseynov, Fariz, 2013. "Bank credits and non-oil economic growth: Evidence from Azerbaijan," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 597-610.
    4. Neil R. Ericsson & James G. MacKinnon, 2002. "Distributions of error correction tests for cointegration," Econometrics Journal, Royal Economic Society, vol. 5(2), pages 285-318, June.
    5. Hasanov, Fakhri J. & Bulut, Cihan & Suleymanov, Elchin, 2016. "Do population age groups matter in the energy use of the oil-exporting countries?," Economic Modelling, Elsevier, vol. 54(C), pages 82-99.
    6. Fakhri J. Hasanov & Elchin Suleymanov & Heyran Aliyeva & Hezi Eynalov & Sa'd Shannak, 2022. "What Drives the Agricultural Growth in Azerbaijan? Insights from Autometrics with Super Saturation," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 70(3), pages 147-174.
    7. Ansgar Belke & Robert Czudaj, 2010. "Is Euro Area Money Demand (Still) Stable? Cointegrated VAR Versus Single Equation Techniques," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 56(4), pages 285-315.
    8. Fakhri J. Hasanov & Muhammad Javid & Frederick L. Joutz, 2022. "Saudi Non-Oil Exports before and after COVID-19: Historical Impacts of Determinants and Scenario Analysis," Sustainability, MDPI, vol. 14(4), pages 1-38, February.
    9. repec:ipg:wpaper:2014-056 is not listed on IDEAS
    10. Pourazarm, Elham & Cooray, Arusha, 2013. "Estimating and forecasting residential electricity demand in Iran," Economic Modelling, Elsevier, vol. 35(C), pages 546-558.
    11. Sugra Humbatova & Afag Huseyn & Natig Gadim-Oglu Hajiyev, 2023. "Impact of Oil Factor on Investment: The Case of Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 129-148, March.
    12. Sahbi Farhani & Anissa Chaibi & Christophe Rault, 2014. "A study of CO2 emissions, output,energy consumption, and trade," Working Papers 2014-56, Department of Research, Ipag Business School.
    13. Solarin, Sakiru Adebola & Shahbaz, Muhammad, 2013. "Trivariate causality between economic growth, urbanisation and electricity consumption in Angola: Cointegration and causality analysis," Energy Policy, Elsevier, vol. 60(C), pages 876-884.
    14. Farhani, Sahbi & Chaibi, Anissa & Rault, Christophe, 2014. "CO2 emissions, output, energy consumption, and trade in Tunisia," Economic Modelling, Elsevier, vol. 38(C), pages 426-434.
    15. repec:ipg:wpaper:201415 is not listed on IDEAS
    16. repec:ipg:wpaper:2014-582 is not listed on IDEAS
    17. Jeyhun I. Mikayilov & Fakhri J. Hasanov & Carlo A. Bollino & Ceyhun Mahmudlu, 2017. "Modeling of Electricity Demand for Azerbaijan: Time-Varying Coefficient Cointegration Approach," Energies, MDPI, vol. 10(11), pages 1-12, November.
    18. Zou, Gao Lu, 2012. "The long-term relationships among China's energy consumption sources and adjustments to its renewable energy policy," Energy Policy, Elsevier, vol. 47(C), pages 456-467.
    19. Jeyhun I. Mikayilov & Shahriyar Mukhtarov & Hasan Dinçer & Serhat Yüksel & Rıdvan Aydın, 2020. "Elasticity Analysis of Fossil Energy Sources for Sustainable Economies: A Case of Gasoline Consumption in Turkey," Energies, MDPI, vol. 13(3), pages 1-15, February.
    20. Chor Foon Tang and Eu Chye Tan, 2012. "Electricity Consumption and Economic Growth in Portugal: Evidence from a Multivariate Framework Analysis," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
    21. Samih Antoine Azar & Angelic Salha, 2017. "The Bias in the Long Run Relation between the Prices of BRENT and West Texas Intermediate Crude Oils," International Journal of Energy Economics and Policy, Econjournals, vol. 7(1), pages 44-54.
    22. Farhani, Sahbi & Shahbaz, Muhammad & Arouri, Mohamed & Teulon, Frédéric, 2014. "The role of natural gas consumption and trade in Tunisia's output," Energy Policy, Elsevier, vol. 66(C), pages 677-684.
    23. Vicente Esteve, 2004. "Política fiscal y productividad del trabajo en la economía española: un análisis de series temporales," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 19(1), pages 3-29, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:9:y:2016:i:12:p:1045-:d:85071. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.