文章基本信息

标题：The role of social and physical infrastructure spending in tradable and non-tradable growth
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作者：Fakhri J. Hasanov ; Jeyhun I. Mikayilov ; Sabuhi Yusifov 等
期刊名称：Współczesna Ekonomia
印刷版ISSN：1897-9254
出版年度：2019
卷号：13
期号：1
页码：79-98
DOI：10.5709/ce.1897-9254.300
出版社：VIZJA Press & IT
摘要：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.
关键词：Social expenditures; infrastructure expenditures; non;oil tradable sector; non;tradable sector; Dutch Disease; Azerbaijan