The Impact of the Oil Price Fluctuations on the Agrarian Policy in Azerbaijan

Academic Journal of Economic Studies, Vol. 3, No. 2, pp. 88–96, Forthcoming

12 Pages Posted: 18 May 2017

See all articles by Elchin Suleymanov

Elchin Suleymanov

Baku Engineering University - Department of Finance

Farhad Rahmanov

Azerbaijan State University of Economics (UNEC)

Anar Eminov

Azerbaijan Tourism and Management University

Date Written: May 16, 2017

Abstract

Azerbaijan passed into market economy after independence as well as other post-soviet countries. Azerbaijan acquired huge revenues from oil being oil exporting country like Russia and Kazakhstan and those revenues were pooled to make fund for transit period. But other sectors, especially agriculture shrank down despite its traditional and special place. Nevertheless losing revenues with fall in oil prices since end of 2014, Azerbaijan realized the important share of agriculture sector and agricultural export. This study investigates Azerbaijan agricultural policy in 2016 due to oil price fluctuations and main steps that government should take in order to eliminate Dutch Disease and increase non-oil sector and also applicability of agricultural policy of main CIS agricultural product export countries. At the end some suggestions are given on agricultural policy. Despite successful results on reconstruction economy on market based economy, integration into global economy through huge projects, there are still questions like efficiency management of free market economy; required reforms in oil price volatility need answer. In this study, comparatively analysed agriculture sector and agricultural export in Azerbaijan the period 2014-2016.

Keywords: Oil Price Fluctuations, Agriculture Sector, Agricultural Export, Dutch Disease, Agricultural Policy

JEL Classification: F31, C31, Q43

Suggested Citation

Suleymanov, Elchin and Rahmanov, Farhad and Eminov, Anar, The Impact of the Oil Price Fluctuations on the Agrarian Policy in Azerbaijan (May 16, 2017). Academic Journal of Economic Studies, Vol. 3, No. 2, pp. 88–96, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2969142

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

Farhad Rahmanov

Azerbaijan State University of Economics (UNEC) ( email )

Istiglaliyyat street 6
Baku, AZ Az1001
Azerbaijan

Anar Eminov

Azerbaijan Tourism and Management University ( email )

Koroglu Rahimov 822/23
Baku AZ1072
Azerbaijan

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