Problems of transformation of oil wealth into the long-term development

Elman Rustamov
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Elman Rustamov: Central Bank of Azerbaijan

Ekonomicheskaya Politika / Economic Policy, 2009, vol. 4, 144-170

Abstract: In recent years, Azerbaijan's economy is showing record growth. During the decade (1999-2008) the physical volume of GDP increased by more than four times. Particularly successful was the period that began in 2005 - an average annual rate of economic growth in this segment amounted to 24%. As a result, by the end of the reporting period, the volume of GDP is more than twice the reference level recorded in the year of independence after the Soviet collapse, whereas the average for other CIS countries, this level was exceeded by only 29%.

Keywords: economy; Azerbaijan; growth; GDP; oil (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:ecopol:0947

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