Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/303481 
Year of Publication: 
2024
Publisher: 
ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg
Abstract: 
Azerbaijan's economy is at a critical juncture, with the decreasing reliance on resource-based income signaling an imminent transition. The nation's strategic focus on economic diversification offers substantial prospects for growth in non-oil sectors. However, the pressing question remains: Is Azerbaijan sufficiently prepared for the post-oil era? This paper aims to rigorously assess the key performance indicators outlined in the nation's state programs and strategic roadmaps, particularly in the context of diversifying the economy. By providing an in-depth analysis of both retrospective and prospective GDP growth, this study highlights the challenges and opportunities Azerbaijan faces in cultivating a more diverse and resilient economic landscape. The findings suggest that while there are significant hurdles to overcome, there is considerable potential for the country to transition towards a more sustainable, diversified economy that is less dependent on oil revenues. This evaluation not only underscores the necessity for continued reforms but also identifies key areas where strategic investments and policy shifts could yield long-term benefits for Azerbaijan's economic future.
Subjects: 
Azerbaijan
national economy
GDP growth
COP29
fossil fuel
post-oil era
diversification
non-oil and gas exports
Strategic Roadmaps
State Programs
Document Type: 
Preprint

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