Durmanov, Akmal
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Energy Price Impact on BRIC Stock Markets: A Granger Causality Analysis Pessoa, Gustavo; Ponkratov, Vadim; Philippov, David; Shvyreva, Olga; Kuznetsov, Nikolay; Elyakova, Izabella; Mikhina, Elena; Kotova, Natalya; Pozdnyaev, Andrey; Durmanov, Akmal; Bloshenko, Tatiana
Emerging Science Journal Vol 8, No 6 (2024): December
Publisher : Ital Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28991/ESJ-2024-08-06-015

Abstract

Energy prices and the stock market are two of the crucial factors in the evolving landscape of global finance, particularly in major emerging economies. However, research on how energy price changes impact stock markets in BRIC countries remains limited, despite their diverse roles in global energy markets and economies. This study investigates the causal dynamics between energy prices and stock market performance in BRIC countries, aiming to uncover short-term fluctuations and long-run relationships in these major emerging economies. Utilizing daily data from 2013 to 2023, stationarity tests, cointegration analysis, and Granger causality tests are employed to examine these relationships. Key findings reveal weak evidence of a long-run equilibrium between energy prices and stock market indices, challenging previous assumptions about their cointegration. More significantly, the findings uncovered a strong unidirectional Granger causality from oil prices to all BRIC stock market indices, while gas prices show a more selective influence. Notably, no evidence of reverse causality from stock markets to energy prices was found, highlighting the exogenous nature of global energy prices in relation to BRIC stock markets. This study uniquely analyzes oil and gas price effects on BRIC stock markets, offering insights for investors and policymakers amid increasing commodity-financial market integration. Doi: 10.28991/ESJ-2024-08-06-015 Full Text: PDF
The Impact of Climate-Smart Technology Adoption on Agricultural Productivity and Environmental Sustainability Karakulov, Farkhod; Menglikulov, Bakhtiyor; Mamasadikov, Abror; Kholbutaeva, Shaknoza; Mukhtorov, Abdukholik; Abdulkhaeva, Gulshan; Gafurova, Dilshoda; Ruziyev, Sodik; Ablatdinov, Sultanbek; Durmanov, Akmal
Emerging Science Journal Vol. 9 No. 6 (2025): December
Publisher : Ital Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28991/ESJ-2025-09-06-012

Abstract

This study provides an empirical assessment of emerging opportunities and offers a conceptual framework for understanding the potential impacts of climate-smart agriculture (CSA) adoption on agricultural productivity and environmental sustainability. Focusing on Uzbekistan, the research employs quantitative analysis of farm-level data, adoption gradient modeling, and return-on-investment (ROI) estimation to examine how CSA technologies influence key farm-level outcomes, including yields, income, resource-use efficiency (RUE), soil erosion, and water quality under world constraints. In cotton-wheat systems, the usage of six or more CSA is associated with a 71% increase in farm income, a 43% rise in crop yields, and a 48% improvement in resource-use efficiency (RUE), compared to farms with low levels of CSA usage. Fertilizer micro-dosing is associated with an average increase in cotton yields of 245.8 kg ha⁻¹ yr⁻¹ and delivers a ROI of 456%. Multivariate regression models account for 57.3% of the variation in yield and 61.8% in farm income, underscoring the explanatory power of CSA adoption patterns. Comparative analyses demonstrate that organic matter-based practices consistently outperform capital-intensive alternatives in both economic and environmental terms. The methodological approach integrates monitoring, reporting, and verification (MRV) indicators, payback period estimations, and threshold analyses tailored to risk-sensitive smallholder contexts. The findings provide robust empirical support for evidence-informed CSA policy formulation, including the design of targeted subsidies, extension services, and investment strategies in Uzbekistan. By reconciling global CSA implementation paradigms with localized constraints, the study generates scalable and empirically validated approaches, offering methodological relevance for analogous agroecological and institutional contexts.