CEU Electronic Theses and Dissertations, 2017
| Author | Ahmadli, Orkhan |
|---|---|
| Title | Prerequisites to Reboot Resource Cursed Economies: The Case of Azerbaijan's Economic Diversification Policies |
| Summary | Slumping oil prices starting from 2014, thereby, the dropping crude revenues and the ensuing economic crisis reaffirmed the existence of the resource curse in a majority of oil producing economies, including Azerbaijan. Weakening national currency, shrinking economic activities, declining living standards, melting foreign exchange reserves, and more importantly, the skyrocketing debt to GDP ratio signal the urgency to undertake immediate measures to restructure the national economy of Azerbaijan through reduction of hydrocarbon dependence and diversification of the export portfolio. Although the Azerbaijani government is aware of the necessity of bringing down dependence on the oil sector and had determined the diversification as a key direction of the economic development, non-resource sector is not yet within reach of the potential to generate revenues sufficient to substitute hydrocarbon returns. Closely examining the resource curse in the country and analyzing economic diversification strategies, this research aims to investigate policy failures and find prerequisites to reboot the resource cursed economy of Azerbaijan. Utilizing an interpretive mixed research design, the thesis offers budgetary, legal, and institutional reforms as preconditions to reboot Azerbaijan’s economy. Successful verification of the hypothesis sets a new framework to follow and achieve long-awaited diversified economy in the country. |
| Supervisor | Bodenstein Thilo |
| Department | School of Public Policy MA |
| Full text | https://www.etd.ceu.edu/2017/ahmadli_orkhan.pdf |
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