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Dutch Disease and Azerbaijan Economy

Fakhri Hasanov ()

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: The study analyzed whether there are any symptoms of Dutch Disease in Azerbaijani economy during 2001-2007by employing testable hypotheses while carefully checks alternative explanations of observed consequences. The study concluded that there has not been “absolute de-industrialization”, but observed “relative de-industrialization” in the non-oil tradable sector and substantial expansion in the non-tradable sector. Government expenditures have created the “spending effect” and this effect has been more significant than the “resource movement effect”. There have been evidences of a rapid increase in average wage and high price in the non-tradable sector and therefore an appreciation of the real exchange rate.

JEL-codes: O13 Q33 (search for similar items in EconPapers)
Date: 2011-11-06
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