This study seeks to determine the impact the fall in global oil prices post-2014 had on the welfare of the populations of three resource-rich post-Soviet states: Russia, Kazakhstan, and Azerbaijan. Changes in welfare will be explored through the analysis of several socio-economic indicators affected by the local currencies’ devaluations. It will be suggested that the single-commodity export dependence of the countries concerned, and the domestic development of non-tradeable sectors faltered in the face of external shocks. Several policy suggestions are offered to mitigate the effects of the economic downturns observed.
Center for Economic and Social Development
Caspian Plaza, 3rd Block, 14th floor. J.Jabbarli str. 44, Baku, AZ1065, Azerbaijan
(99412) 5943665
info@cesd.az
Mon – Fri 9:00A.M. – 6:00P.M.