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Macroeconomıc Analysıs And Graphıcal Interpretatıon Of Azerbaıjan Economy In 1991-2012

Listed author(s):
  • Suleymanov, Elchin
  • Aliyev, Khatai

The aim of this research is to analyze macroeconomic performance and discuss transition indicators in Azerbaijan economy for 1991-2012. After regaining independence in 1991, Azerbaijan implemented economic transition process toward market economy. In first years of independence serious economic recession was observed. However, after 1995, restructuring of the economy was started. In this sense, signing “Contract of the Century” was a turning point toward oil based high speed economic growth or oil boom period. Thus, by opening “Baku-Tbilisi-Ceyhan” pipeline in 2005, Azerbaijan’s macroeconomic indicators experienced with considerable growth for following years. On the other hand, Azerbaijan officially declared the end of economic transition process in its economy in 2009. Here, the author discusses political-economic and economic process in whole period as well as analyzes macroeconomic performance with and without oil & gas contribution. In addition, the author questions if economic transition was ended in Azerbaijan economy. After all, it is concluded that oil & gas production has serious impact over macroeconomic indicators and transition indicators for Azerbaijan implies the end of economic transition partly, not totally.

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File URL: https://mpra.ub.uni-muenchen.de/65307/2/MPRA_paper_65307.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 65307.

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Date of creation: Mar 2015
Date of revision: Mar 2015
Publication status: Published in Expert Journal of Economics 1.3(2015): pp. 40-49
Handle: RePEc:pra:mprapa:65307
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  1. Thomas, Joachim, 2006. "Property Rights, Land Fragmentation and the Emerging Structure of Agriculture in Central and Eastern European Countries," eJADE: electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization, Agricultural and Development Economics Division, vol. 3(2).
  2. Joachim Thomas, 2006. "Property rights, land fragmentation and the emerging structure of agriculture in Central and Eastern European countries," The Electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization of the United Nations, vol. 3(2), pages 225-275.
  3. Suleymanov, Elchin & Nuri Aras, Osman & Huseynov, Ruslan, 2013. "The Importance of Azerbaijan's Energy Revenues in its Exports Volume and the Effects on the National Economy," MPRA Paper 50723, University Library of Munich, Germany.
  4. Ciarreta, Aitor & Nasirov, Shahriyar, 2012. "Development trends in the Azerbaijan oil and gas sector: Achievements and challenges," Energy Policy, Elsevier, vol. 40(C), pages 282-292.
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