Publication:
Azerbaijan : Inclusive Growth in a Resource-Rich Economy

dc.contributor.authorOnder, Harun
dc.date.accessioned2013-01-31T17:22:15Z
dc.date.available2013-01-31T17:22:15Z
dc.date.issued2013
dc.description.abstractAzerbaijan experienced a 'golden age' in the last decade, during which the average growth rate reached record high levels and poverty decreased significantly. On average, the economy grew by 15.3 percent per year in real terms during this period, mainly driven by the oil sector (21.5 percent growth per year), but with a significant contribution from the non-oil sector (11.1 percent per year). As a result, poverty declined dramatically from 49.6 percent in 2001 to 15.8 percent in 2008 the latest year for which household survey data was available when this report was prepared. This report takes an inclusive growth approach to investigating the ways in which the country's high growth was translated into significant poverty reduction. First chapter summarizes the sources of growth in Azerbaijan with an emphasis on structural transformation and discusses highlights of the inclusive growth methodology. Second chapter explores how growth helped to reduce poverty. Third chapter analyzes the sustainability and inclusiveness of the recent growth. Finally, fourth chapter focuses on the structural obstacles that constrain further inclusive growth in Azerbaijan. The last chapter recommends some policies to overcome these obstacles. The main findings of this report call for a careful strategy in promoting further inclusive growth in Azerbaijan. The mechanisms that facilitated drastic reductions in poverty in the last decade a strong rise in fiscal transfers and in the real wage were made possible by the oil boom. However, these mechanisms also reduced the pace of structural transformation in the Azerbaijan economy. Distorted incentives in demand and supply sides of the labor market have seemed to weaken the correlation between productivity growth and employment shares. This report finds that the failure to follow a fiscal rule over the past decade has led to excessive domestic absorption with a resulting barriers against further development and diversification in the tradable sectors (principally agriculture and manufacturing) and against employment creation within those sectors, as well as leading to an unsustainable growth in public expenditures, and to inadequate long-term public savings in the Oil Fund. Thus, the reassertion of a fiscal rule that constrains domestic absorption and promotes economic diversification is a necessary condition for achieving sustained inclusive growth.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/12/17097432/azerbaijan-inclusive-growth-resource-rich-economy
dc.identifier.isbn978-0-8213-9759-6
dc.identifier.urihttps://hdl.handle.net/10986/12228
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Study;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCESS TO MARKETS
dc.subjectACCOUNTING
dc.subjectAGE GROUP
dc.subjectAGRICULTURAL GROWTH
dc.subjectAGRICULTURAL LAND
dc.subjectAGRICULTURAL OUTPUT
dc.subjectAGRICULTURAL SECTOR
dc.subjectAGRICULTURAL SERVICES
dc.subjectAGRICULTURAL WAGES
dc.subjectAUDITING
dc.subjectAVERAGE PRODUCTIVITY
dc.subjectAVERAGE WAGE
dc.subjectAVERAGE WAGES
dc.subjectBANKS
dc.subjectCAPITAL FORMATION
dc.subjectCASH TRANSFERS
dc.subjectCENTRAL PLANNING
dc.subjectCOLLEGE EDUCATION
dc.subjectCOMMUNITY GROUPS
dc.subjectCONFLICT
dc.subjectCONSOLIDATION
dc.subjectCONSUMPTION EXPENDITURES
dc.subjectCREATING JOBS
dc.subjectCURRENT PRICES
dc.subjectDISTORTED INCENTIVES
dc.subjectDIVIDENDS
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DIVERSIFICATION
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC INTEGRATION
dc.subjectECONOMICS
dc.subjectEMPLOYABILITY
dc.subjectEMPLOYEE
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT DYNAMICS
dc.subjectEMPLOYMENT GENERATION
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT OPPORTUNITIES
dc.subjectEMPLOYMENT OUTCOMES
dc.subjectEMPLOYMENT RATE
dc.subjectEMPLOYMENT RATES
dc.subjectEMPLOYMENT SERVICE
dc.subjectEMPLOYMENT SHARE
dc.subjectEMPLOYMENT STATUS
dc.subjectFARMERS
dc.subjectFEMALE EMPLOYMENT
dc.subjectFEMALE PARTICIPATION
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL SERVICES
dc.subjectFIRM SIZE
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISHING
dc.subjectFOOD SAFETY
dc.subjectFORESTRY
dc.subjectFORMAL LABOR MARKET
dc.subjectFORMAL SECTOR WAGES
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectHEALTH SERVICES
dc.subjectHIGH EMPLOYMENT
dc.subjectHOUSEHOLD CONSUMPTION
dc.subjectHOUSEHOLD SURVEY
dc.subjectIMPACT ON POVERTY
dc.subjectINCIDENCE ANALYSIS
dc.subjectINCIDENCE OF POVERTY
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME REDISTRIBUTION
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL EMPLOYMENT
dc.subjectINNOVATION
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectIRRIGATION
dc.subjectJOB CREATION
dc.subjectJOB FAIR
dc.subjectJOB FAIRS
dc.subjectJOB MARKET
dc.subjectJOB PLACEMENT
dc.subjectJOB SEARCH
dc.subjectJOB SECURITY
dc.subjectJOB SEEKERS
dc.subjectJOBS
dc.subjectLABOR CONTRACTS
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET CHARACTERISTICS
dc.subjectLABOR MARKET CONDITIONS
dc.subjectLABOR MARKET INDICATORS
dc.subjectLABOR MARKET OUTCOMES
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOR PRODUCTIVITY GROWTH
dc.subjectLABOR SHARE
dc.subjectLABOR SUPPLY
dc.subjectLAND OWNERSHIP
dc.subjectLAND REFORM
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLIVING STANDARDS
dc.subjectLOW EMPLOYMENT
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectMARKET DISTORTIONS
dc.subjectMIGRATION
dc.subjectMINIMUM WAGE
dc.subjectMONOPOLIES
dc.subjectNOMINAL WAGES
dc.subjectOIL
dc.subjectOIL PRICES
dc.subjectOIL SECTOR
dc.subjectOUTPUTS
dc.subjectPENSIONS
dc.subjectPER CAPITA CONSUMPTION
dc.subjectPOOR HOUSEHOLD
dc.subjectPOOR HOUSEHOLDS
dc.subjectPOVERTY ALLEVIATION
dc.subjectPOVERTY ALLEVIATION STRATEGY
dc.subjectPOVERTY ASSESSMENT
dc.subjectPOVERTY LINE
dc.subjectPOVERTY RATES
dc.subjectPOVERTY REDUCTION
dc.subjectPOVERTY REDUCTION STRATEGY
dc.subjectPRIMARY SOURCE
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTORS
dc.subjectPRODUCTION COSTS
dc.subjectPRODUCTIVE ACTIVITIES
dc.subjectPRODUCTIVE EMPLOYMENT
dc.subjectPRODUCTIVITY DECOMPOSITION
dc.subjectPRODUCTIVITY GAINS
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC HOUSING
dc.subjectPUBLIC SAVINGS
dc.subjectPUBLIC SPENDING
dc.subjectQUOTAS
dc.subjectREAL WAGE
dc.subjectREAL WAGES
dc.subjectREMOTE AREAS
dc.subjectRENTS
dc.subjectRETAIL TRADE
dc.subjectRETIREMENT
dc.subjectRUNNING WATER
dc.subjectRURAL
dc.subjectRURAL AREAS
dc.subjectRURAL EMPLOYMENT
dc.subjectRURAL LABOR
dc.subjectRURAL POOR
dc.subjectRURAL POPULATION
dc.subjectRURAL POVERTY
dc.subjectRURAL TRANSFORMATION
dc.subjectRURAL WORKERS
dc.subjectSAFETY
dc.subjectSAFETY REGULATION
dc.subjectSAFETY REGULATIONS
dc.subjectSAVINGS
dc.subjectSICK LEAVE
dc.subjectSKILL PREMIUM
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOCIAL CAPITAL
dc.subjectSOCIAL INCLUSION
dc.subjectSOCIAL INSURANCE PROGRAMS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SERVICES
dc.subjectSUSTAINABLE GROWTH
dc.subjectTARGETING
dc.subjectTAX RATES
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTOTAL EMPLOYMENT
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL UNEMPLOYMENT
dc.subjectTRANSFER PROGRAMS
dc.subjectTRANSPORT
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYED PEOPLE
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT ASSISTANCE
dc.subjectUNEMPLOYMENT BENEFIT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectUNEMPLOYMENT SPELLS
dc.subjectUNINTENDED CONSEQUENCES
dc.subjectURBAN WORKERS
dc.subjectVOCATIONAL EDUCATION
dc.subjectVOCATIONAL TRAINING
dc.subjectWAGE GROWTH
dc.subjectWAGE POLICY
dc.subjectWAR
dc.subjectWORKER
dc.subjectWORKERS
dc.subjectWORKING POOR
dc.subjectYOUTH EMPLOYMENT
dc.subjectYOUTH UNEMPLOYMENT
dc.titleAzerbaijan : Inclusive Growth in a Resource-Rich Economyen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2012-12-20
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2012/12/17097432/azerbaijan-inclusive-growth-resource-rich-economy
okr.globalpracticeSocial Protection and Labor
okr.globalpracticePoverty
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.identifier.doi10.1596/978-0-8213-9759-6
okr.identifier.externaldocumentum000386194_20121220025153
okr.identifier.internaldocumentum17097432
okr.identifier.report74466
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/12/20/000386194_20121220025153/Rendered/PDF/NonAsciiFileName0.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryAzerbaijan
okr.region.countryAzerbaijan
okr.topicSocial Protections and Labor::Labor Markets
okr.topicSocial Protections and Labor::Labor Policies
okr.topicBanks and Banking Reform
okr.topicPoverty Reduction::Rural Poverty Reduction
okr.topicEnvironmental Economics and Policies
okr.topicFinance and Financial Sector Development
okr.topicEnvironment
okr.unitEcon. Policy & Debt Dept (PRMED)
okr.volume1 of 1
relation.isAuthorOfPublicationd61c0c55-6729-5ba5-aa32-ba74610c7f12
relation.isAuthorOfPublication.latestForDiscoveryd61c0c55-6729-5ba5-aa32-ba74610c7f12
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