Oil Dependence of Post-Soviet Countries in the Caspian Sea Region : the Case of Azerbaijan and Kazakhstan
Journal Title: Acta Scientiarum Polonorum. Oeconomia - Year 2018, Vol 0, Issue 0
Abstract
The aim of the research is to present oil dependence of Azerbaijan and Kazakhstan from 2000 till 2017. The analysed countries represent two former Soviet Union countries in the Caspian Sea region and are among the world’s top 15 oil dependent economies. It is shown that both countries generate high oil rents to GDP ratios. Moreover, the paper reveals that their fuels export constitutes a huge portion of total merchandise export. It implies that majority of Azerbaijani and Kazakhstani export revenues come from resources extraction. The empirical analysis of co-movements between the crude oil prices and chosen macroeconomic indicators shows that correlation between oil prices and Kazakhstani and Azerbaijani public debt to GDP ratios is negative, strong and significant. In addition, there is significant relationship between oil prices and Kazakhstani exchange rate and GDP growth rate.
Authors and Affiliations
Katarzyna Czech
Keywords
Related Articles
- EP ID EP536016
- DOI 10.22630/ASPE.2018.17.3.32
- Views 74
- Downloads 0
Differentiation of Social Capital Level in Rural Cities of the West Pomeranian Voivodeship According to the Criterion for Income - Research Results
Evolution of societies means that factors that generate socio-economic development also evolve. Classic growth determinants are not enough to further improve the economic situation. The paper draws attention to the so-ca...
Determinants of Profitability of Enterprises of Meat Industry in Poland
The aim of the study was to determine the strength and direction of influence of individual factors on the return on equity of the enterprises of the meat industry in Poland in 2008–2012. A detailed analysis covered 86 e...
The Competitiveness of Agriculture of EU Member Countries of Central and Eastern Europe
The aim of the study is to assess the competitiveness of agriculture in the countries of Central and Eastern Europe which are members of the European Union in relation to the agriculture of the so-called old EU countries...
Diversification in the Income Levels of EU farm Holdings Specializing in the Production of Milk
EU farms specializing in milk production are characterized by a considerable diversity in terms of income levels. This variation is due to the impact of a number of natural and economic factors. In EU-15, the level of in...
The Influence of Specialized Training on the Quality of Hotel Customers Service
The aim of the study was to identify the changes that have occurred in the quality of hotel services in the past 10 years in the area of eastern Poland. Efforts were made to determine the effect of trainings in managing...