After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country s oil and natural gas reserves have been considered the main source for financing a range of government...

The aim of this research is to analyze macroeconomic performance and discuss transition indicators in Azerbaijan economy for 1991-2012. After regaining independence in 1991, Azerbaijan implemented economic transition process toward market economy. In the first years of independence, serious...

Financial intermediation is one of the vital determinants of long-run economic growth. It might carry extra relevance in natural resource-rich developing economies, challenged by the long-term negative effects of windfall revenues, namely the resource curse. This study explores whether financial...