Oil booming and accumulated mineral revenue contributed to the economic growth in Azerbaijan since independence but also pressurized the national currency leading to the appreciation of the nominal effective exchange rate (NEER) and real effective exchange rate (REER). An increase in export...

Agriculture and agrarian sectors have been gone through the serious transformation process since the collapse of the Soviet Union in Azerbaijan. An ever-growing body of academic literature body investigated the resource curse and Dutch disease theories to conceptualize non-oil sectors in...

Is it possible to apply Principal Component Analysis (PCA) in the Azerbaijan economy? Before blindly answering the question, careful examination of the collected data and the relevance of the data set to the mentioned analysis should be checked. PCA is a widely used multivariate dimension...

Azerbaijan has an oil-led economy, which according to the well-known resource curse and Dutch disease hypotheses decreases the role of non-oil tradable sectors. Nevertheless, the government has actively fostered the growth of non-oil tradable sectors as the export orientation of Azerbaijan is...