In November 1997, the first oil was extracted as a result of joint exploration activities conditioned by the “Contract of the Century” and a bit later Azerbaijan started to get her profit oil, and subsequently oil dollars, from those activities. But even before the oil money entered the...

This analytical review had been prepared by the experts of the National Budget Group with the aim to evaluate macroeconomic activity in Azerbaijan in 2010. Basic macroeconomic indicators (GDP, employment, income of the population, foreign trade, foreign investments, poverty, etc.) of Azerbaijan...

The paper looks at the key challenges facing the implementation of the Extractive Industries Transparency Initiative (EITI) in two former Soviet countries, Azerbaijan and Kazakhstan. Generally the EITI is playing a very significant role in attracting investment to national economies and...

Azerbaijan has enjoyed a rapid run-up in government revenues from oil and natural-gas production in the period since 2005. Theory predicts that this run-up will trigger the Dutch Disease among Azerbaijani producers. In this paper, we report the initial findings of a survey of Azerbaijani...

This policy paper is an assessment of the current situation in management of oil revenues in Azerbaijan in order to find solutions for improving it. This policy paper is the result of research conducted by the research team of Economic Research Center with the financial support of Revenue Watch...

This research was conducted by the experts of Economic Research Centre with the financial support from Open Society Institute-Assistance Foundation within the framework of competition titled “Assistance to analytical centers”. The study report prepared by ERC experts aims at improving the...

Since the collapse of the Soviet Union, the transition economies of the Commonwealth of Independent States (CIS) have kept one of the negative features of the Soviet economy – the informal sector. Despite the shift from command to market economy, the informal sector has proved remarkably...

In this article, we will try to identify the corruption risks in the state budget of Azerbaijan and show ways to overcome them. To substantiate our claims, we will refer to the Law of the Republic of Azerbaijan on the Execution of the State Budget of the Republic of Azerbaijan for 2020...

When oil prices fell on world markets, privatization in Azerbaijan came to the fore again. This time, the companies to be privatized were transferred to the management of the Azerbaijan Investment Holding on November 5, 2020, for rehabilitation. The list of such state companies and enterprises,...

In considering the Azerbaijan’s pension system and its financial mechanisms in this paper, the main point is to draw attention to changes in the legislation and further development processes. The main directions of reforms of the pension system in Azerbaijan, development of individual account...