Artice co-authored by PhD. in Economics Shahriyar Mukhtarov, head of World Economy Department at BEU, PhD. in Economics Vugar Muradov, assoc.prof. of the Department, and PhD. in Economics Sugra Humbatova, senior lecturer of the Department, has been published in “Sustainability” journal (June issue, 2020).  

The article entitled “Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?” analyzed the effects of oil prices, economic growth and carbon dioxide (CO2) emissions on renewable energy consumption on the example of Azerbaijan through the STSM method by using statistical data. According to the article, economic growth in Azerbaijan has a positive impact, and oil prices have a negative impact on renewable energy consumption.

The study noted that the negative impact of oil prices on renewable energy consumption was taken as one of the important indicators delaying the transition from conventional energy sources to renewable energy consumption for the convenience of higher oil prices for the country. Based on the results of the study, a number of proposals were made for the transition from traditional energy sources to renewable energy consumption.

The full text of the article is available at https://www.mdpi.com/2071-1050/12/11/4689 .

It should be noted that “Sustainability” journal is indexed in the Web of Science database, which is considered the most influential database in the world, and the impact factor is 2.59.

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