UOT 338.45:338.1:330.356 (479.24)

Hajizadeh Elshan Makhmud olqli

Doctor of eсonomics, Prof. Azerbaijan State Economic University.

Abstract

Assessing the impact of oil and gas sector on economic growth

Purpose is analysis of the current state of infrastructure-building complex of the national oil and gas sector, its role and importance in the economic development of the country, including the assessment of the impact on economic growth of the development of this sector.

Methodology is based on the structural methods of trending and situational approaches of systematic analysis. The study also used correlation methods and other econometric methodology.

Findings are evaluation of role and importance of oil and gas sector in GDP in 1988-2011, forecasting of this sector impact on economic growth in the short and medium term.

Research limitations are following:

1) calculations are not covered a longer-term periods;

2) lack of clear assignment of indicators of growth and difficulties of finding a more extensive and comprehensive statistical sources;

3) diversification of methodological approach in calculations.

Practical implication is using of the research as an alternative source for forecasting of the influence of oil and gas industry to economic growth.

Originality is consist of introducing of extensive scientific interpretation of the term of oil and gas sector in context of economics, presenting of the «National Oil Strategy» in conceptual aspect, conducting of a new scientific generalizes using from basic indicators of oil and gas sector and assessment of influence directions of oil and gas sector to GDP.

Keywords: oil and gas sector, National Oil Strategy, economic growth, policy of budget and tax, forecasting.

JEL Classification Codes: B21, B41, C15, D04, E27.

163.Assessing the impact of oil and gas sector on economic growth. Tax Jurnal of Azerbaijan. Baku: № 1. 2012. 3,4 p.sh.