The role of Exchange Rates in non-oil export activity: evidence from Azerbaijan
DOI:
https://doi.org/10.15549/jeecar.v7i3.477Keywords:
exchange rate; export; diversification; macroeconomicsAbstract
The dependence of the Azerbaijani economy on oil makes urgent the issue of diversifying the economy to increase its competitiveness. This, in turn, necessitates the formation of techniques to qualitatively assess the effectiveness of diversification to alternative, namely non-oil exports. This study aims to develop an econometric model to assess the impact of non-oil export diversification on Azerbaijan's economic development. Based on the literature analysis and using hierarchy analysis by T. Saaty, a list of indicators has been proposed to assess the diversification of non-oil exports. The opinions of 30 experts were used to prioritize the indicators. An integral coefficient of diversification of non-oil exports was modelled based on an additive convolution of diversification indicators, taking into account the coefficients of their significance and expert assessments. The research results can serve as a suggestion as to the formation of an effective strategy for the modernization of the country's economy.
References
BERNARDINA ALGIERI, (2004) “Price and Income Elasticities of Russian Exports” The European Journal of Comparative Economics, Vol. 1, n. 2, 2004, pp. 175-193, ISSN 1824-2979, http://eaces.liuc.it
BRUNNSCHWEILER, C. N. (2008) “Cursing the blessing? Natural resources abundance, institutions and economic growth”, World development, Vol. 36, No. 3, pp. 399– 419, doi: 10.1016/j.worlddev.2007.03.004.
CBRA, 2018. Central Bank of the Republic of Azerbaijan. https://www.cbar.az/home?language=en
COMTRADE (2018). UN Comtrade database. https://comtrade.un.org/
DOMADOR N.GUJARAT?, DAWN C.PORTER, (2009) “Basic Econometrics”, The McGraw-Hill, New York, USA, 2009, p. 785
GÖKMEN Y, TUREN. U. (2013) “The Determinants of High Technology Exports Volume: A Panel Data Analysis of EU-15 Countries”. International Journal of Management, Economics and Social Sciences, Vol. 2, No. 3, pp. 217–232
LAGES, L.F, LAGES C. AND LAGES, C.R. (2005) European managers’ perspective on export performance determinants. Journal of Euromarketing.15 (2): 75-92.
MASOUD HOMAYOUNIFAR AND RASTEGARI FATEMEH, (2008). “Analysis of Economic-Political Factors Affecting non Oil Export of Iran”, IDOSI Publications. 2008
OGUN OLUREMI, (1998). “Real exchange rate movements and export growth: Nigeria, 1960- 1990” African Economic Research Consortium, November 1998
OYEJIDE, T. A., (1986) "The Effects of trade and exchange rate policies on agriculture in Nigeria" IFPRI Research Report No. 55. 1986.
SANDU, S., CIOCANEL, B. (2014) “Impact of R&D and Innovation on High-tech Export”, Procedia Economics and Finance, Vol. 15, pp. 80–90, doi: 10.1016/ s2212-5671(14)00450-x.
SANGITA P., (2000). “Determinants of Exports in Fiji”, Economics Department Reserve Bank of Fiji, June 2000.
SCHOTT, P. (2008) “The relative sophistication of Chinese exports”, Economic Policy, Vol. 23, No. 53, pp. 6–49, doi: 10.1111/j.1468-0327.2007.00195.x.
SRHOLEC, M. (2007) “High-Tech Exports from Developing Countries: A Symptom of Technology Spurts or Statistical Illusion?”, Review of World Economics, Vol. 143, No. 2, pp. 227–255, doi: 10.1007/s10290-007-0106-z.
SCCRA, (2018). State Customs Committee of the Republic of Azerbaijan. https://customs.gov.az/en/
SSCRA, (2018). State Statistical Committee of the Republic of Azerbaijan. https://www.stat.gov.az/?lang=en
SUNDE, T. (2017) “Foreign direct investment, exports and economic growth: ADRL and causality analysis for South Africa”, Research in International Business and Finance, Vol. 41, pp. 434–444, doi: 10.1016/j.ribaf.2017.04.035.
TEBALDI, E. (2011) “The Determinants of High-Technology Exports: A Panel Data Analysis”, Atlantic Economic Journal, Vol. 39, No. 4, pp. 343–353, doi: 10.1007/s11293-011-9288-9.
TRADEMAP DATA, (2019). https://www.trademap.org/Index.aspx
ZHANG, K. H. (2007) “Determinants of Complex Exports: Evidence from Cross Country Data for 1985-1998”, Economia Internazionale/International Economics, Vol. 60, No. 1, pp. 111–122.
Downloads
Published
How to Cite
Issue
Section
License
The JEECAR journal allows the author(s) to hold the copyright and publishing rights of their own manuscript without restrictions.
This journal applies the Creative Attribution Common License to works we publish, and allows reuse and remixing of its content, in accordance with a CC-BY 4.0 license.
Authors are free to: Share — copy and redistribute the material in any medium or format and Adapt — remix, transform, and build upon the material for any purpose, even commercially.
Under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
No additional restrictions — The author may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics.
