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Analysis of the oil, price and currency factor of economic growth in Azerbaijan

Author

Listed:
  • Sugra Ingilab Humbatova

    (Azerbaijan State University of Economics, Azerbaijan)

  • Azer Islam Ogli Garayev

    (Azerbaijan State University of Economics, Azerbaijan)

  • Sabuhi Mileddin Ogli Tanriverdiev

    (Azerbaijan State University of Economics, Azerbaijan)

  • Natig Gadim-Oglu Hajiyev

    (Azerbaijan State University of Economics, Azerbaijan)

Abstract

The article examines the main macroeconomic indicators of the Azerbaijani economy, including GDP, GNI, CPI, exchange rate, fixed assets, investments, etc. Using statistical data of 2000‒2016, the main factors influencing oil production and dependence on oil prices are determined, and econometric equations (models) are established and evaluated. In addition, the same macroeconomic indicators, combined with oil production factors and oil prices, created a complex regression equation that reflects the dependence of manat on the dollar and the CPI. Meanwhile, all the data were compared both with the previous year, and with the base year (2000=100). the statistical significance of the regression and correlation parameters in the models was calculated using the EViews 9, PASW Statistics 18 and Gretl software packages for each parameter (Sig. p

Suggested Citation

  • Sugra Ingilab Humbatova & Azer Islam Ogli Garayev & Sabuhi Mileddin Ogli Tanriverdiev & Natig Gadim-Oglu Hajiyev, 2019. "Analysis of the oil, price and currency factor of economic growth in Azerbaijan," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(3), pages 1335-1353, March.
    • Handle: RePEc:ssi:jouesi:v:6:y:2019:i:3:p:1335-1353
    DOI: 10.9770/jesi.2019.6.3(20)
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    More about this item

    Keywords

    CPI; GDP; GNI; exchange rate; econometric models;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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