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Autor
Hasanov Fakhri F. (King Abdullah Petroleum Studies and Research Center, Saudi Arabia; George Washington University, USA; Azerbaijan National Academy of Sciences), Mikayilov Jeyhun I. (King Abdullah Petroleum Studies and Research Center, Saudi Arabia; Institute for Scientific Research on Economic Reforms, Azerbaijan; Azerbaijan State University of Economics), Yusifov Sabuhi (Azerbaijan Technology University), Aliyev Khatai (Azerbaijan State University of Economics; Baku Engineering University, Azerbaijan; ASERC, Baku, Azerbaijan), Talishinskaya Samra (OJSC The International Bank of Azerbaijan, Azerbaijan; ADA University, School of Economics, Azerbaijan)
Tytuł
The Role of Social and Physical Infrastructure Spending in Tradable and Non-Tradable Growth
Źródło
Contemporary Economics, 2019, vol. 13, nr 1, s. 79-98, rys., tab., zał., bibliogr. 92 poz.
Słowa kluczowe
Infrastruktura społeczna, Wydatki socjalne
Social infrastructure, Social expenditures
Uwagi
Klasyfikacja JEL: H5, O1, O2
summ.
Kraj/Region
Azerbejdżan
Azerbaijan
Abstrakt
This study investigates the impact of social and physical infrastructure spending on the non-oil tradable and non-tradable sectors while controlling for non-oil capital stock and employment in the Azerbaijani economy for the period 1995-2014. The analysis employs the Engle-Granger and Phillips-Ouliaris cointegration tests using FMOLS estimation results to test for the existence of long-run relationships. The tests results indicate the existence of long-run relationships among the variables. The estimation results reveal positive impacts of both social and physical infrastructure spending on non-oil tradable and non-tradable outputs. However, the impacts on the non-tradable sector are considerably larger than those on the non-oil tradable sector. Developing the non-resource tradable sector, and thereby reducing possibility of the "Resource Curse" and especially the Dutch Disease, is one of the strategic aims of natural resource-rich countries. In this regard, the findings of this research may be useful for Azerbaijani policymakers in taking measures that aim at fostering the development of the non-oil tradable sector, thereby avoiding possible negative outcomes of resource dependency such as the Dutch Disease. (original abstract)
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Bibliografia
Pokaż
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Cytowane przez
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ISSN
2084-0845
Język
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.300
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