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
Date Written: May 16, 2017
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: Suggested Citation