Category - Elchin SULEYMANOV

Qafqaz University, Azerbaijan

Elchin SULEYMANOV Khatai ALIYEV

Macroeconomic Analysis and Graphical Interpretation of Azerbaijan Economy in 1991-2012

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 the first years of independence, serious economic recession was observed. However, after 1995, the restructuring of the economy started. In this sense, signing the “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 considerable growth for the following years. On the other hand, Azerbaijan officially declared the end of economic transition process in its economy in 2009. In this paper, the authors discuss the political-economic and economic process in the whole period as well as analyze the macroeconomic performance with and without oil & gas contribution. In addition, the...

Read More
Elchin SULEYMANOV Sabuhi YUSIFOV

Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts

After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country s oil and natural gas reserves have been considered the main source for financing a range of government programs for reforms. On the one hand, these reserves had to be used effectively; on the other hand, there was a huge demand for foreign investment for extraction. To this end, Azerbaijan has signed Contract of the Century in 1994. Although Azerbaijan has wide oil and natural gas reserves, it has faced a number of difficulties in its transition path. This study analyzes these problems and reforms for solving them. One of the types of the problems related to the economic structure of the former Soviet Union: disruption of the economic ties between the republics resulted in a decline of production, high levels of unemployment and prices and consequently led to an economic recession in all of the...

Read More
Aims & Scope

Expert Journal of Economics welcomes original academic articles to be published in open access.

Read more about Expert Journal of Economics→

Guide for Authors

This 'Guide for Authors' provides useful information about the publication process at Expert Journal of Economics.

Read 'Guide for Authors' →

Current Issue

Volume 5 of Expert Journal of Economics is now available online

View Current Issue →

Forthcoming Papers

View upcoming finance academic articles accepted for publication.

View Articles →

Send Your Article Now
Bitnami