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Econometric analysis of the impact of the unemployment rate on GDP per capita in Azerbaijan

Author

Listed:
  • Elchin Suleymanov

    (National Observatory on Labor Market and Social Protection Issues)

  • Shaig Kazimov

    (National Observatory on Labor Market and Social Protection Issues)

  • Elnur Safarli

    (National Observatory on Labor Market and Social Protection Issues)

  • Elvin Alirzayev

    (Academy of the State Customs Committee)

Abstract

This study examines the impact of unemployment on economic growth and individual income in Azerbaijan within a macroeconomic framework. The issue is of particular significance for the country’s development strategy, as reducing unemployment and enhancing social welfare remain core policy priorities. In economic theory, the interdependence between unemployment and economic growth is often explained through Okun’s Law and other macroeconomic models. Building on these conceptual foundations, this research provides an empirical evaluation of the relationship based on long-term national data. The empirical dataset consists of Azerbaijan’s...

Suggested Citation

  • Elchin Suleymanov & Shaig Kazimov & Elnur Safarli & Elvin Alirzayev, 2025. "Econometric analysis of the impact of the unemployment rate on GDP per capita in Azerbaijan," The Scientific-Analytical Journal "Economic Reforms", Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan, vol. 2025(2), pages 65-82, February.
    • Handle: RePEc:azr:reform:v:2025:y:2025:i:2:p:65-82
    DOI: 10.30546/2790-2196.02.13.2025.3023
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    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E29 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Other
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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