Aygun Alesgerova
Current Organizations / Institutes
The organizations/institutes from the scholar's latest article
Research Subjects
Research Interests
Aygun Alesgerova has a total of 4 co-authors. Here are the top co-authors by number of shared publications:
- Aliyev Shafa Tiflis
Department of Business Management, Sumgait State University, AZ5008 Sumgait, Azerbaijan
1 shared publication - Jabir Kerimov
Department of Economics, Nakhchivan State University, AZ7012 Nakhchivan, Azerbaijan
1 shared publication - Mayis Gulaliyev
Dr., Prof., Department of Economics, Ganja State University, Azerbaijan; “World Trade Organization” in Azerbaijan State University of Economics (UNEC), Azerbaijan; Department of Management, Azerbaijan Technological University, Azerbaijan
1 shared publication - Sabina Muradova
Department of Economics, Azerbaijan State University of Economics, AZ1001 Baku, Azerbaijan
1 shared publication
Latest Publications
- Open Access
Why Oil Windfalls Do Not Equal Welfare: Regime-Dependent Long-Run Elasticities in MENA and Azerbaijan
Background: This study revisits whether oil revenue windfalls translate into higher socio-economic welfare in oil-exporting economies and explains why oil price booms often fail to generate sustained gains in real GDP per capita. Methods: Using annual data for ten oil-exporting countries over 1990–2024, we estimate country-specific ARDL/ECM models under a unified specification. The dependent variable is log real GDP per capita, explained by log real oil prices, the log share of government expenditure in GDP, population growth, and world GDP growth, with political and devaluation dummies where relevant. Results: Cointegration and significant error correction terms hold for most exporters, but adjustment speeds differ sharply. Long-run oil price elasticities are heterogeneous: strongly positive in Qatar, weak or insignificant in several cases (including Azerbaijan), and negative in a post-rentier pattern (UAE/Oman). Fiscal and demographic channels emerge as systematic constraints: government expenditure shares are often negatively associated with long-run welfare, and population growth typically reduces GDP per capita. World GDP growth is generally positive but uneven in significance. Conclusions: Resource use is conditional: welfare outcomes depend on fiscal regimes, demographic pressures, and structural transformation rather than windfall size alone.
Open AccessWhy Oil Windfalls Do Not Equal Welfare: Regime-Dependent Long-Run Elasticities in MENA and Azerbaijan
Background: This study revisits whether oil revenue windfalls translate into higher socio-economic welfare in oil-exporting economies and explains why oil price booms often fail to generate sustained gains in real GDP per capita. Methods: Using annual data for ten oil-exporting countries over 1990–2024, we estimate country-specific ARDL/ECM models under a unified specification. The dependent variable is log real GDP per capita, explained by log real oil prices, the log share of government expenditure in GDP, population growth, and world GDP growth, with political and devaluation dummies where relevant. Results: Cointegration and significant error correction terms hold for most exporters, but adjustment speeds differ sharply. Long-run oil price elasticities are heterogeneous: strongly positive in Qatar, weak or insignificant in several cases (including Azerbaijan), and negative in a post-rentier pattern (UAE/Oman). Fiscal and demographic channels emerge as systematic constraints: government expenditure shares are often negatively associated with long-run welfare, and population growth typically reduces GDP per capita. World GDP growth is generally positive but uneven in significance. Conclusions: Resource use is conditional: welfare outcomes depend on fiscal regimes, demographic pressures, and structural transformation rather than windfall size alone.