ISET Economist Blog

A blog about economics in the South Caucasus.

Did Azerbaijan Enter the Post-Oil Era?

Sometimes, transformation requires a crisis. Economists in particular are very well aware of this maxim. We are reminded of it every time a country undergoes an economic shock. A country in those times is a bit like a patient who gets the last warning from a doctor to drop the unhealthy habits or face irreversible consequences. One of these scenarios has been unfolding in front of our eyes during the past year. Georgia’s neighbor and one of the largest trading partners, Azerbaijan, has been going through tough times. THE UNFOLDING OF A CRISIS In the last...
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Guest — Garry
Petroleum is harmless, except for the trace of poverty it leaves behind on that day, when the faces of those who discover another ... Read More
Tuesday, 23 February 2016 12:12 AM
I remember that crisis last year when we were discussing about it with our classmates from Azerbaijan. We had almost same discussi... Read More
Tuesday, 26 April 2016 12:12 AM
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Azerbaijan Economy and the Oil Prices: a Blessing in Disguise?

International crude oil prices, which have hovered at $110 per barrel for the last three and a half years, started a sudden and abrupt downfall in August 2014, reaching a $50 per barrel mark in just five months. More than a year after the event, it looks like the oil price of $50 per barrel is here to stay, at least for the foreseeable future. BLAME THE TECHNOLOGY The primary reason behind the drop was undoubtedly the technological advances in shale oil and gas extraction in the United States – a boom so big, that the US is now poised to become a net ene...
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Guest — LashaNikolaishvili
The resource curse
Wednesday, 14 October 2015 9:09 AM
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