The Analisis of Impact of the Global Financial Crisis on Development Azerbaijan Economy

Journal of Qafqaz University - Economics and Administration, Vol. 1, No. 1, 2013

10 Pages Posted: 21 Jan 2014

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: January 21, 2014

Abstract

The global financial crisis influenced on the economy, due to the speedy integration of Azerbaijan to the world economical system since independence. Analysing the economy of Azerbaijan, we can see the relations between high level GDP growth and living standard level, fall of the inflation and unemployment rates as well as other related indicators with increase of oil prices and oil production. Aftermath of the global financial crisis, decline in oil prices has created some challenges for the Azerbaijan economy. The article analyzes the influence of the global financial crisis on Azerbaijani Economy on the both micro and macro levels, including oil and non-oil sectors, foreign trade, public debt, budget and investments.

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

JEL Classification: G21, B22, E51

Suggested Citation

Suleymanov, Elchin and Alirzayev, Elvin and Zeynalov, Ayaz, The Analisis of Impact of the Global Financial Crisis on Development Azerbaijan Economy (January 21, 2014). Journal of Qafqaz University - Economics and Administration, Vol. 1, No. 1, 2013. Available at SSRN: https://ssrn.com/abstract=2382769

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

Elvin Alirzayev

Qafqaz University ( email )

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

Ayaz Zeynalov

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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