Volatility, Diversification and Oil Shock in Resource-Rich Turkic Countries: Avenues for Recovery
Öz
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.
Anahtar Kelimeler
Kaynakça
- Abdygaliyeva G. et al. (2007). “Economic Diversification in The Republic of Kazakhstan Through Small and Medium Enterprise Development: Introducing New Models of Funding for SME’s”. Center for Marketing and Analytical Research Report.
- Aleksandrova S. (2016). “Impact of Oil Prices on Oil Exporting Countries in the Caucasus and Central Asia”. Economic Alternatives 4.
- Aslanli N. et al. (2013). “Assessment of Economic and Export Diversification: Azerbaijan”. Revenue Watch Institute Report.
- Atkinson G. and K. Hamilton (2003). “Savings, Growth and the Resource Curse Hypothesis”. World Development 31 (11): 1793–1807.
- Auty R. M. (1998). “Resource Abundance and Economic Development: Improving Performance for Resource-Rich Countries”. UNU-WIDER Research in Action 44.
- Dabrowski M. (2016). “Currency crises in post-Soviet economies— a never ending story?”. Russian Journal of Economics 2: 302-326.
- Esanov A. (2012a). “Economic Diversification: Dynamics, Determinants and Policy Implications”. Revenue Watch Institute Report.
- Esanov A. (2012b). “Economic Diversification: The Case for Kazakhstan”. Revenue Watch Institute Report.
Ayrıntılar
Birincil Dil
İngilizce
Konular
-
Bölüm
Araştırma Makalesi
Yayımlanma Tarihi
31 Ekim 2017
Gönderilme Tarihi
26 Ekim 2016
Kabul Tarihi
-
Yayımlandığı Sayı
Yıl 2017 Sayı: 83