http://doi.org/10.35668/2520-6524-2021-1-02
Suleymanov Arzu — PhD, Associate Professor, Head of the Chair of Economics, Azerbaijan Technical University, Baku, Azerbaijan; +994552271646; suleymanov.arzu@gmail.com; ORCID: 0000-0001-9802-549X
Mehdiyev Malik — PhD, Senior Scientific Worker of Institute for Scientific Research on Economic Reforms of Ministry of Economy of the Republic of Azerbaijan, Baku, Azerbaijan; +994502715489; malik.mehdiyev63@gmail.com
Musayev Rauf — Head of the Economic Modeling and Analysis Department of Institute for Scientific Research on Economic Reforms of Ministry of Economy of the Republic of Azerbaijan, Baku, Azerbaijan; +994557474838; musayev.rauf@yahoo.com; ORCID: 0000-0002-8623-4363
Orujova Mehpara — Senior Lecturer, Azerbaijan Technical University, Baku, Azerbaijan; +994552271646, mehpare.orucova@aztu.edu.az
Huseynov Vusal – Senior researcher of the Economic Modeling and Analysis Department of Institute for Scientific Research on Economic Reforms of Ministry of Economy of the Republic of Azerbaijan, Baku, Azerbaijan; +994556768808, vusal.2468@gmail.com
ANALYSIS OF REGIONAL MARKETS FOR HEAVY INDUSTRY AND MACHINE BUILDING PRODUCTS
(IN THE EXAMPLE OF AZERBAIJAN ECONOMY)
Abstract. The presented article analyzes regional markets, for heavy industry and machine building products for the Azerbaijani economy. In terms of trade relations and territory, the markets of Turkey, the Russian Federation, Georgia, the Islamic Republic of Iran, Moldova, Belarus, Ukraine, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Armenia were selected and evaluated. The database of the study consists of mutual import and export data for the mentioned countries in 2014–2018. Based on the import-export data collected covering the years 2014–2018 on six-digit codes of regional markets, the revealed comparative advantage and localization coefficients on import and export were calculated. As a result, importing and exporting countries have been identified in the regional markets through the calculated coefficients for each of the 5 years of heavy industry and machine building products considered. Thus, in terms of imports and exports, the countries with the highest coefficients were selected.
Key words: heavy industry and machine building, Balassa index, localization coefficient, revealed comparative advantage, market demand, import-export, regional markets, Azerbaijan economy.
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