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| Main Authors: | , , |
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| Format: | Recurso digital |
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| Udgivet: |
Zenodo
2025
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| Fag: | |
| Online adgang: | https://doi.org/10.5281/zenodo.17467776 |
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Indholdsfortegnelse:
- <p><span lang="EN-US">After gaining independence, the Republic of Azerbaijan, rich in natural resources, started to generate significant oil and gas revenues since the beginning of the 2000s. Striving for economic growth, sustainable development and social welfare, the country has established the State Oil Fund (SOFAZ) to manage resource revenues. The earnings accumulated within SOFAZ during the last twenty years have played a determining role in the financing of the country's crucial infrastructure projects and the state budget. Since 2014, the sharp fluctuations in oil prices have negatively affected all areas of the Azerbaijani economy, including the health sector, and demonstrated that the country is highly dependent on natural resources. Despite the crisis, the country insisted on achieving its objectives and has been increasing the number of financial resources allocated for expenditures of one of the decisive components of human capital, the health sector, each year. This paper aims to investigate the causality relationship between oil and natural gas revenues and state budget health expenditures for period between the years 2000 and 2019. As a result of the research, the existence of a linear and positive relationship between the two indicators, which has an important explanatory level, has been revealed.</span></p>