Araştırma Makalesi

COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times

Cilt: 20 Sayı: 1 26 Mart 2022
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COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times

Öz

Any fluctuation in oil prices and supply has a direct effect on Azerbaijan’s economy. The government has started the implementation of several state programs to diversify its economy and to develop the non-oil sectors, using energy revenues. COVID-19 has broken out in such a period that the oil prices were already low. The Second Karabakh War has complicated impacts of the pandemic. Facing health, military and economic problems, Azerbaijan has fought on three different fronts. This study evaluates the effects of the pandemic on Azerbaijan’s economy, suggesting that it will affect the oil and gas industry negatively in near future. It is argued that in a long term, the state will be pushed to restructure and transform the economy, to increase the share of the non-oil sectors and to open more space for renewable energy sources, taking advantage of the incomes of The State Oil Fund.

Anahtar Kelimeler

Kaynakça

  1. Alekhina, V. & Yoshino, N. 2018. Impact of World Oil Prices on an Energy Exporting Economy Including Monetary Policy. ADBI Working Paper 828. Tokyo: Asian Development Bank Institute. https://www.adb.org/publications/impact-world-oil-prices-energyexporting-economy-including-monetary-policy (accessed 05 July 2021).
  2. Asian Development Bank. 2020. https://www.adb.org/countries/azerbaijan/economy (accessed 17 December 2020).
  3. Asian Development Bank. 2021. ABD COVID-19 Policy Database. Azerbaijan (Data updated as of 08 Feb 2021). https://covid19policy.adb.org/index.php/policy-measures/AZE (accessed 14 February 2021).
  4. Bagirova, N. & Antidze, M. 2015. Azerbaijan's Economic Growth Slows to 3 pct In 2014 Due to Weaker Oil Price. Reuters. https://www.reuters.com/article/azerbaijan-economy-idUSL6N0UR2SS20150112 (accessed 02 January 2021).
  5. Belyi, A. 2012. Energy Security in International Relations (IR) Theories. Lecture Notes. Cathedra on Political Issues of International Energy, Higher School of Economics, Russia. https://www.hse.ru/data/339/636/1233/ReaderforLecturesOnEnergySecurity.doc (accessed 08 July 2021).
  6. BP. 2020. Statistical Review of World Energy. 69th Edition. https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2020-full-report.pdf (accessed 12 February 2021).
  7. CAREC Institute. 2020. CAREC Institute Quarterly Economic Monitor. https://www.carecinstitute.org/wp-content/uploads/2021/01/CI-Quarterly-Economic-Monitor-28-Dec-2020_KK.pdf (accessed 11 February 2021).
  8. EBRD. 2020a. Azerbaijan Overview. https://www.ebrd.com/where-we-are/azerbaijan/overview.html (accessed 20 December 2020).

Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

26 Mart 2022

Gönderilme Tarihi

29 Ağustos 2021

Kabul Tarihi

3 Şubat 2022

Yayımlandığı Sayı

Yıl 2022 Cilt: 20 Sayı: 1

Kaynak Göster

APA
Aydın, U. (2022). COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, 20(1), 103-120. https://doi.org/10.18026/cbayarsos.988348
AMA
1.Aydın U. COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi. 2022;20(1):103-120. doi:10.18026/cbayarsos.988348
Chicago
Aydın, Ulviyye. 2022. “COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times”. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi 20 (1): 103-20. https://doi.org/10.18026/cbayarsos.988348.
EndNote
Aydın U (01 Mart 2022) COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi 20 1 103–120.
IEEE
[1]U. Aydın, “COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times”, Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, c. 20, sy 1, ss. 103–120, Mar. 2022, doi: 10.18026/cbayarsos.988348.
ISNAD
Aydın, Ulviyye. “COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times”. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi 20/1 (01 Mart 2022): 103-120. https://doi.org/10.18026/cbayarsos.988348.
JAMA
1.Aydın U. COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi. 2022;20:103–120.
MLA
Aydın, Ulviyye. “COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times”. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, c. 20, sy 1, Mart 2022, ss. 103-20, doi:10.18026/cbayarsos.988348.
Vancouver
1.Ulviyye Aydın. COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times. Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi. 01 Mart 2022;20(1):103-20. doi:10.18026/cbayarsos.988348

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