Harun Onder's Azerbaijan: Inclusive Growth in a Resource-Rich Economy PDF

By Harun Onder

Azerbaijan skilled a “golden age” within the final decade, within which the typical development expense reached checklist excessive degrees and poverty reduced considerably. On regular, the financial system grew through 15.3 percentage according to yr in genuine phrases in this interval. consequently, poverty declined dramatically from 49.6 percentage in 2001 to 15.8 percentage in 2008.

This examine takes an inclusive development method of investigating the ways that the country’s excessive progress used to be translated into major poverty relief. The document first investigates the assets of progress in Azerbaijan with an emphasis on sectoral composition and structural transformation, after which explores how development helped to minimize poverty. subsequent, it analyzes the sustainability and inclusiveness of the new progress, and makes a speciality of the structural stumbling blocks that constrain extra inclusive development in Azerbaijan. eventually, it recommends a collection of regulations to beat those obstacles.

The major findings of this examine demand a cautious approach in selling additional inclusive development in Azerbaijan. Poverty is located to be lowered normally by means of oil-financed social transfers and genuine salary progress, which in flip have been made attainable through Azerbaijan’s sharply expanding oil sales. although, because the proportion of hydrocarbon area grew within the economic system, structural transformation in the direction of diversification and balanced development stalled. additionally, the sectoral composition of contemporary progress has now not been conducive to employment production. To extra advance inclusiveness, as a result, there's a want for diversification and development in hard work marketplace results.

This research additionally identifies components the place coverage alterations can unharness additional inclusive development within the non-oil financial system. those contain merchandising of a better fiscal integration into international markets, creation of a strong and long term orientated monetary rule that limits and smoothes the family absorption of oil sales, removal the ability mismatches and distortionary tax incentives that could create hostile incentives within the exertions marketplace, and bettering institutional points of the company setting. A huge approach for selling inclusive progress includes imposing those rules in a scientific fashion.

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Azerbaijan: Inclusive Growth in a Resource-Rich Economy (World Bank Studies) by Harun Onder

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