Gas pipeline infrastructure and economic growth of Russian regions: panel cointegration analysis

摘要

The Russian gas supply system is one of the largest infrastructures in the world. It is continuing to develop at a high rate. Modern methodological approaches and software allow to investigate the relationship between the development of energy infrastructure and economic dynamics of the regions. This paper proposes a methodological approach to the evaluation of the relationship “development of gas distribution systems – economic growth”. The evaluation is based on the concept of cointegration and an error-correction models. This approach identifies both long-run and short-run components of this relationship. In this paper we aim to estimate the relationship using annual data of 17 Central Russia regions for the period 1998-2017. The results indicate that this relationship is statistically significant. It allows to apply proposed approach and the obtained estimates to the problems of analysis and forecasting of the domestic gas market.