The role of foreign direct investment in oil and gas sector for economic development of Azerbaijan
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| További közreműködők: | |
| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | Azerbaijan economic developement economy gas industrial policy international finance investment oil |
| Online Access: | http://dolgozattar.uni-bge.hu/37661 |
| Kivonat: | Azerbaijan as a young country with less than 30 years of experience in the global arena has faced significant economic growth which was mostly catalyzed by the oil and gas industry. Since the early 1990s, the implementation of state programs and oil-gas strategy has contributed enormously to the country's`s GDP and economic development. In the early years of independence economic downturns, political instability and other factors made country look for triggers to get economy improved. Several state policies started to be implemented, several changes in law and regulation were made in order to create relevant ecosystem for development. Transformation of economy from centrally planned managed system to free market economy was not able to provide solid base to attract enough foreign direct investment between 1991-1993. Starting from 1994, the volume of foreign direct investment increased enormously in compare of last years. This rapid increase began with the signing of the Contract of Century in 1994 between Azerbaijan and the other largest oil producing companies from other countries. Since 1994, the Azerbaijani government has begun to implement several state programs, and innovative changes in legislation supporting the inflow of foreign direct investment to the economy. In this research paper I focus on Azerbaijan`s oil and gas sector and analyze the role of foreign direct investment. I try to find an answer to the question of how the Azerbaijani economy could benefit from FDI in the oil-gas sector, and which kind of negative consequences are followed by inward FDI. |
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