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The Impact of the Oil Price Fluctuations on the Agrarian Policy in Azerbaijan

Author

Listed:
  • Elchin Suleymanov
  • Farhad Rahmanov
  • Anar Eminov

Abstract

Azerbaijan passed into market economy after independence as well as other post-soviet countries. Azerbaijan acquired huge revenues from oil being oil exporting country like Russia and Kazakhstan and those revenues were pooled to make fund for transit period. But other sectors, especially agriculture shrank down despite its traditional and special place. Nevertheless losing revenues with fall in oil prices since end of 2014, Azerbaijan realized the important share of agriculture sector and agricultural export. . This study investigates Azerbaijan agricultural policy in 2016 due to oil price fluctuations and main steps that government should take in order to eliminate Dutch Disease and increase non-oil sector and also applicability of agricultural policy of main CIS agricultural product export countries. At the end some suggestions are given on agricultural policy. Despite successful results on reconstruction economy on market based economy, integration into global economy through huge projects, there are still questions like efficiency management of free market economy; required reforms in oil price volatility need answer. In this study, comparatively analysed agriculture sector and agricultural export in Azerbaijan the period 2014-2016.

Suggested Citation

  • Elchin Suleymanov & Farhad Rahmanov & Anar Eminov, 2017. "The Impact of the Oil Price Fluctuations on the Agrarian Policy in Azerbaijan," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(2), pages 88-96, June.
    • Handle: RePEc:khe:scajes:v:3:y:2017:i:2:p:88-96
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    Cited by:

    1. Regina Neudert & Naiba Allahverdiyeva & Niyaz Mammadov & Alexandre Didebulidze & Volker Beckmann, 2020. "Diversification of Livestock-Keeping Smallholders in Mountainous Rural Regions of Azerbaijan and Georgia," Land, MDPI, vol. 9(8), pages 1-25, August.

    More about this item

    Keywords

    Oil price fluctuations; agriculture sector; agricultural export; Dutch disease; agricultural policy;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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