The Influence of the Global Financial Crisis to Azerbaijani Economy

11 Pages Posted: 19 Dec 2012 Last revised: 25 Feb 2013

See all articles by Elchin Suleymanov

Elchin Suleymanov

Baku Engineering University - Department of Finance

Elvin Alirzayev

Qafqaz University

Ayaz Zeynalov

CERGE-EI, Charles University in Prague

Date Written: December 18, 2012

Abstract

The global financial crisis influenced the economy of the government, because of the speedy integration of Azerbaijan to the world economical system and wide economical relations with developed and developing countries. If we pay attention to the general economy of Azerbaijan, we can see the main reason of GDP growth, the inflation tempo’s coming down, decrease of the unemployment and increase of the tempos of other positive economical developments is increase of oil prices and oil production. After the global crisis, decline in oil prices in the stocks has created some difficulties for government economy. In this article the influence of the global financial crisis on Azerbaijani Economy on the micro and macro levels, including oil and non-oil sectors, agricultural sector, trade volume, state debt, state budget and direct investments have been analyzed.

Note: Downloadable document is in Turkish.

Keywords: Economy of Azerbaijan, the global financial crisis, the oil and non-oil sector

JEL Classification: O41, H60, G32

Suggested Citation

Suleymanov, Elchin and Alirzayev, Elvin and Zeynalov, Ayaz, The Influence of the Global Financial Crisis to Azerbaijani Economy (December 18, 2012). Available at SSRN: https://ssrn.com/abstract=2190816 or http://dx.doi.org/10.2139/ssrn.2190816

Elchin Suleymanov

Baku Engineering University - Department of Finance ( email )

Baku Sumgait Road 16th km. Hasan Aliyev Str. 120
Baku, AZ0101
Azerbaijan

HOME PAGE: http://beu.edu.az/en/staff_directory/staff/elsuleymanov

Elvin Alirzayev

Qafqaz University ( email )

Baku-Sumgait Highway 16-km Khirdalan,
Khirdalan, AZ0101
Azerbaijan

Ayaz Zeynalov (Contact Author)

CERGE-EI, Charles University in Prague ( email )

Politichych veznu 7
Prague, 111 21
Czech Republic

HOME PAGE: http://www.cerge-ei.cz

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