Exclusive Linear Modeling Approach to the Natural Resource Curse in the Azerbaijani Economy: Examples of Stepwise Regression

There is a growing body of literature on the possible presence of the Natural Resources Curse (NRC) and Dutch Disease Syndrome (DD) in the Azerbaijani economy. Because of its abundant hydrocarbon resources, Azerbaijan has pursued an oil-oriented strategy for economic growth and development. Certainly, this path has helped overcome serious economic problems such as extreme poverty, lack of capital accumulation, and technology adoption, but it is also believed that a lopsided economic structure hinders overall sustainable growth. Indeed, it has been noted that the high-value-added manufacturing... Mehr ...