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No. 83: Low Oil Prices: Economic and Social Implications for Azerbaijan

No. 83: Low Oil Prices: Economic and Social Implications for Azerbaijan

Author(s): Ingilab Ahmadov, Jeyhun Mammadov, Kenan Aslanli, Farid Guliyev
Editor(s): Eurasia Extractive Industries Knowledge Hub (Khazar University), Jeronim Perović (Special Editors), Tamara Brunner, Lili Di Puppo, Iris Kempe, Natia Mestvirishvili, Matthias Neumann, Heiko Pleines
Journal Title: Caucasus Analytical Digest (CAD)
Series: Caucasus Analytical Digest (CAD)
Issue: 83
Publisher(s): Caucasus Research Resource Centers; Research Centre for East European Studies at the University of Bremen; Center for Security Studies (CSS) at ETH Zurich; German Association for East European Studies (DGO)
Publication Year: 2016

This issue of the Caucasus Analytical Digest examines the economic and social implications of low oil prices for Azerbaijan. Ingilab Ahmadov asserts that Azerbaijan’s economy has been hit hard and recommends that authorities’ anti-crisis measures should be accompanied by institutional and administrative reforms. Jeyhun Mammadov looks at the transition from a fixed to a managed floating exchange regime in Azerbaijan and discusses the potentially stabilizing effects of monetary policy instruments on the Azerbaijani economy. Kenan Aslanli examines fiscal policy and the main parameters of Azerbaijan’s fiscal position in the context of the severe cuts in government spending. Farid Guliyev discusses the impact of the resulting shortfall in oil rents on the Azerbaijani government’s social-assistance policies and related expenditures and its implications for social cohesion.

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