The Equilibrium Real Exchange Rate in a Commodity-Exporting Country: Azerbaijan's Experience

Vusal Gasimli () and Vusala Jafarova ()
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Vusal Gasimli: Executive director of the Center for Analysis of Economic Reforms and Communication of Republic of Azerbaijan
Vusala Jafarova: Head of the Turkic World Research Center

The Scientific-Analytical Journal "Economic Reforms", 2021, vol. 2021, issue 1, 7-26

Abstract: The case of Azerbaijan serves to study the adequacy of exchange-rate policy in a resource- rich economy. This paper analyses the behaviour of Azerbaijan's external accounts over the past twenty years. Declining oil prices made an existing exchange-rate peg unsustainable and led to a large devaluation in 2015....

Keywords: Equilibrium real exchange rate; CA gap and REER gap; EBA lite model, Azerbaijan economy (search for similar items in EconPapers)
JEL-codes: C32 F31 F32 F41 O11 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:azr:reform:v:2021:y:2021:i:1:p:7-26

DOI: 10.30546/2790-2196.2.11.2025.1001

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