Volatility, Diversification and Oil Shock in Resource-Rich Turkic Countries: Avenues for Recovery
Abstract
The paper analyses the current level of economic and export diversification in three resource-rich Caspian basin Countries: Kazakhstan,
Azerbaijan and Turkmenistan and attempts to reveal the underlying
causes of high vulnerability of these economies to the recent oil price
shock. On the other hand, the economies are evaluated in the light
of so called subsidized economies, e.g. an economy mainly driven by
public spending and current consumption expenditure. The latter in
this case are mainly fueled by monetary injections as a result of large
resource windfalls encountered by an economy.
Keywords
References
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Details
Primary Language
English
Subjects
-
Journal Section
Research Article
Publication Date
October 31, 2017
Submission Date
October 26, 2016
Acceptance Date
-
Published in Issue
Year 2017 Number: 83