Azerbaycan’ın Piyasa Ekonomisine Geçiş Sürecinde Karşılaştığı Sorunlar ve Çözüm Arayışları (Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts)

International Conference on Eurasian Economies, 17-18 September 2013 – St. Petersburg, Russia

9 Pages Posted: 7 Nov 2014

See all articles by Cihan Bulut

Cihan Bulut

Vistula University - Faculty of Business and International Relations; Qafqaz University

Elchin Suleymanov

Baku Engineering University - Department of Finance

Hasanov Fakhri

Qafqaz University - Center for Socio-Economic Research; George Washington University - Research Program on Forecasting; Institute of Cybernetics - Department of Modeling Socio-Economic Processes

Date Written: September 17, 2013

Abstract

Turkish Abstract: Azerbaycan 18 Ekim 1991 de bağımsızlığını ilan ettikten sonra ekonomisinin liberasyonu ve serbest piyasa ekonomisine geçmek maksadıyla bir çok önemli reformlara imza atmıştır. Ekonomik hedeflerin gerçekleştirilmesinde ülkenin en önemli kaynakları ise hemen hemen hepsi Hazar’da yerleşen petrol ve doğal gaz rezervlerinden oluşan enerji kaynaklarıydı. Bu nedenle ekonomik hedeflere ulaşma adına Hazar enerji kaynaklarının en etkin biçimde kullanılması gerekmekteydi ve öyle de oldu. Zira Azerbaycan, ekonomik, siyasi ve sosyal açılardan yeniden yapılanma, kalkınma, gelişme ve bağımsızlık adına, Hazar enerji kaynaklarından 1994 yılından itibaren faydalanmaya başladı. Enerji kaynaklarının üretim ve dünya piyasalarına ihracına ilişkin çok önemli projelere karar verildi, inşa edildi ve kullanılmaya başlandı.Bağımsızlığını kazanan Hazar Havzası ülkelerinden Kazakistan ve Azerbaycan büyük petrol potansiyellerini, Türkmenistan ise doğal gaz zenginliğini ekonomilerinde değişimi geçekleştirmek için gerekli kaynakları sağlamak ve geçiş döneminin sıkıntılarını hafifletmek amacıyla bir an önce kullanma ihtiyacı duydular. Ancak mevcut boru hatları, Sovyetler Birliği'nin planlı ekonomisi çerçevesinde cumhuriyetler arası işbölümüne göre düzenlenmiş olduğundan, bunların ihraç amaçlı kullanım imkânları sınırlıydı. Sovyetler Birliği'nin dağılmasının ardından Rusya dışındeki üç kıyı devleti; Azerbaycan, Kazakistan ve Türkmenistan'ın bağımsızlıklarını ilan etmesiyle Hazar'ın önemi büyük oranda artmıştır. Bu ülkeler için Hazar enerji kaynaklarının geliştirilmesi ekonomilerini yeniden yapılandırma, kalkınma ve dünya ekonomisine entegre olma açısından önem arz etmektedir.

English Abstract: After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started to transform to the market-based economy and to integrate into the world economy. The country’s oil and natural gas reserves have been considered the main source for financing 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 way. This study analyzes these problems and reforms for solving them. One of the types of the problems were related to the economic structure of the former Soviet Union: disruption of the economic ties between the republics resulted in decline of production, high levels of unemployment and prices and consequently led to an economic recession in all of the republics. Another set of problems was related to lack of sufficient institutional bases to transform to the market economy. Moreover, internal conflicts between the political parties and groups for having authority as well as political chaos in the republic can be considered other serious problems during the transition period. Furthermore, Karabakh war and occupation of 20 percent of the Azerbaijani territory by the Armenian military forces had made the situation extremely complicated. Despite all of these extremes, Azerbaijan transformed to the market-based economy decidedly and even became one of the fast growing countries of the world. Even in 2006, with the GDP growth rate of 34.5 percent, Azerbaijan was a leader among growing economies. In parallel with this significant economic development, there is still a need for some socio-economic and institution al reforms in order to get a well-functioned market-based economy in Azerbaijan.

Note: Downloadable document is in Turkish.

Keywords: Market-Based Economy, Azerbaijan Economy, Socio-Economic and Institutional Reforms

JEL Classification: O11, R11, F41

Suggested Citation

Bulut, Cihan and Suleymanov, Elchin and Hasanov, Fakhri, Azerbaycan’ın Piyasa Ekonomisine Geçiş Sürecinde Karşılaştığı Sorunlar ve Çözüm Arayışları (Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts) (September 17, 2013). International Conference on Eurasian Economies, 17-18 September 2013 – St. Petersburg, Russia. Available at SSRN: https://ssrn.com/abstract=2328910 or http://dx.doi.org/10.2139/ssrn.2328910

Cihan Bulut

Vistula University - Faculty of Business and International Relations ( email )

Stokłosy 3
Warszawa
Poland

Qafqaz University ( email )

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

Elchin Suleymanov (Contact Author)

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

Fakhri Hasanov

Qafqaz University - Center for Socio-Economic Research ( email )

Baku Sumgait Road 16th km.
Hasan Aliyev Str. 120
Khirdalan, Baku AZ0101
Azerbaijan
+994 (12) 4482862-66 (Phone)
+994 (12) 4482861,67 (Fax)

HOME PAGE: http://www.qu.edu.az/

George Washington University - Research Program on Forecasting ( email )

1922 F Street, NW
Old Main, Suite 208
Washington, DC 20052
United States
(202) 994-6150 (Phone)
(202) 994-6147 (Fax)

HOME PAGE: http://research.columbian.gwu.edu/cer/research/forecasting

Institute of Cybernetics - Department of Modeling Socio-Economic Processes ( email )

9, F. Agayev Str.
Baku, Az1141
Azerbaijan
(994 12) 5390151 (Phone)
(994 12) 5392633 (Fax)

HOME PAGE: http://www.cyber.az/

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