The Influence of Fiscal Progress on Energy Consumption in Kazakhstan

Authors

Abstract

Among the strategic goals of the European Union (EU) is to upsurge the consumption of green energy in its member states, bringing together financing, technological, and innovations around customer engagement. Most researchers have been conducted around the green economy in Kazakhstan, but petite examination has been done on the influence of the fiscal sector on renewable consumption of energy. This research paper centers on the link between energy usage, economic progress, fiscal expansion, and energy prices in Kazakhstan using the Vector Error Correction Model Technique. The valuation results revealed a positive and substantial influence on economic and financial development on the consumption of energy. Prices of energy represented by the Consumer Price Index had an indirect influence on the consumption of energy. These two analyses are in tandem with theoretical findings and expectations. Further, the findings depict that a percentage increase in fiscal and economic growth leads to increased energy usage by 0.11% and 0.39%, respectively. Keywords: financial development, economic progress, energy consumption, renewable energyJEL Classifications: Q16, 016, 044DOI: https://doi.org/10.32479/ijeep.9784

Downloads

Download data is not yet available.

Author Biography

Azamat Zhanseitov, Karaganda State University named after E.A. Buketov

Master of science, lecturer at finance department, KSU

Downloads

Published

2020-08-10

How to Cite

Zhanseitov, A., Raikhanova, G., Mambetova, S., Daribekov, S., & Akbayev, Y. (2020). The Influence of Fiscal Progress on Energy Consumption in Kazakhstan. International Journal of Energy Economics and Policy, 10(5), 344–347. Retrieved from https://econjournals.com.tr/index.php/ijeep/article/view/9784

Issue

Vol. 10 No. 5 (2020)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.