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Begin New Search Topic Economics Author Vugar Bayramov

1. Competitiveness in Azerbaijan: Assessing Sectorial Economic Policies

Author:
Ziya Alili, Rashad Hasanov, Farhad Bayramov, and Vugar Bayramov
Publication Date:
12-2014
Content Type:
Special Report
Institution:
Center for Economic and Social Development (CESD)
Abstract:
CESD- Center for Economic and Social Development, Azerbaijan has developed new research paper titled as “Competitiveness in Azerbaijan: Assessing Sectorial Economic Policies”. This publication was developed and printed with the support of Friedrich-Ebert-Stiftung. This research paper assesses economic diversification and cross-sector competitiveness in Azerbaijan by employing extensive qualitative and quantitative methodologies. The paper will measure the extent to which Azerbaijan’s economy is labor- and GDP-diversified or not. If it is not, we must ask what kind of policies can be developed for sectorial diversification and economic development. This paper will further analyze the government’s fiscal and monetary policies aimed at developing better, quantitatively based recommendations.
Topic:
Development, Economics, Diversification, and Fiscal Policy
Political Geography:
Azerbaijan and South Caucasus

2. Azerbaijan’s Accession to World Trade Organization (WTO); Pros and Cons

Author:
Vugar Bayramov
Publication Date:
07-2010
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
Center for Economic and Social Development (CESD) together with Konrad-Adenauer-Stiftung (KAS) have published new policy paper titled as “Azerbaijan’s accession to the WTO: Assessing the macroeconomic consequences for the economy of Azerbaijan”. The paper analyzes the macroeconomic consequences for Azerbaijan’s economy in case the country joins the World Trade Organization (WTO ). Existing studies primarily draw on qualitative methods, while for this study a Computable General Equilibrium (CGE) model of the economy is calculated to simulate the consequences of WTO accession. The authors are able to generate numeric forecasts for macroeconomic variables as a measure for welfare and elaborate how WTO accession, interpreted as an external shock to the economy, would affect these variables. This study is, therefore, a unique contribution to the public and academic debate as it is the first study to quantitatively gauge the effects of accession beyond qualitative arguments. To contextualize the quantitative findings, several independent experts were interviewed to compile their opinions on WTO accession. The results of this study suggest positive welfare effects of WTO accession through increases in income, consumption and savings. However, the forecasts generated through our model reveal that exports would plummet as a consequence of accession. This must be of particular concern for the Azerbaijani economy with its oil and energy sector currently being the main driver of gross domestic product, foreign direct investment and exports. As a consequence, the Azerbaijani economy needs to diversify rapidly and decrease its dependence on oil to realize positive effects on general welfare that could be triggered through WTO accession. Whether these positive effects will materialize in the long run is hard to predict, although the qualitative evidence cited in this study suggests that accession would bring along important incentives for diversification.
Topic:
Economics, Oil, World Trade Organization, and Trade
Political Geography:
Azerbaijan and South Caucasus