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Entrepreneurship and Sustainability Issues Open access
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Received: 2018-10-10  |  Accepted: 2019-01-15  |  Published: 2019-03-30

Title

Analysis of the oil, price and currency factor of economic growth in Azerbaijan


Abstract

The article examines the main macroeconomic indicators of the Azerbaijani economy, including GDP, GNI, CPI, exchange rate, fixed assets, investments, etc. Using statistical data of 2000‒2016, the main factors influencing oil production and dependence on oil prices are determined, and econometric equations (models) are established and evaluated. In addition, the same macroeconomic indicators, combined with oil production factors and oil prices, created a complex regression equation that reflects the dependence of manat on the dollar and the CPI. Meanwhile, all the data were compared both with the previous year, and with the base year (2000=100). the statistical significance of the regression and correlation parameters in the models was calculated using the EViews 9, PASW Statistics 18 and Gretl software packages for each parameter (Sig. p<0.001, p<0.01, p<0.05) for each parameter. An economic interpretation of obtained results is provided.


Keywords

CPI, GDP, GNI, exchange rate, econometric models


JEL classifications

E01 , E31 , O11


URI

http://jssidoi.org/jesi/article/289


DOI


Pages

1335-1353


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Humbatova, Sugra Ingilab
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Garayev, Azer Islam Ogli
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Tanriverdiev, Sabuhi Mileddin Ogli
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Hajiyev, Natig Gadim-Oglu
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

6


Number

3


Issue date

March 2019


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 4050  |  PDF downloads: 1638

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