The Influence of the Global Financial Crisis to Azerbaijani Economy

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