The Effects of Oil Prices and Oil Production on Non-Oil Exports in an Oil-Rich Country: The Case of Dutch Disease Symptom in Azerbaijan

The aim of the study is to examine whether there is a Dutch disease symptom by revealing the short-term and long-term effects of oil prices and oil production on non-oil exports in oil-rich Azerbaijan. In this context, ARDL bounds test and FMOLS method was applied by considering oil price, real GDP and non-oil real export variables covering the period 2001Q1 and 2019Q4. The results of the analysis determine that there is a cointegration relationship between the variables. Short-term and long-term coefficients are statistically indicated. In the long run, there is a positive relationship betwee... Mehr ...