After ‘Wasted’ Boom Years, Azerbaijan Pays the Price of Energy-Revenue Dependency

Azerbaijan’s president, Ilham Aliyev, at a meeting of the Eastern Partnership, Prague, Czech Republic, April 24, 2014 (AP photo by Petr David Josek).
Azerbaijan’s president, Ilham Aliyev, at a meeting of the Eastern Partnership, Prague, Czech Republic, April 24, 2014 (AP photo by Petr David Josek).
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Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. In mid-January, protests in Azerbaijan against price hikes and a collapse in the country’s currency were broken up forcefully by security forces, resulting in the arrest of 55 people. In an email interview, Richard D. Kauzlarich, the co-director of the Center for Energy Science and Policy at George Mason University who also served as the U.S. ambassador to Azerbaijan from 1994 to 1997, explains the impact of the collapse of global energy prices on Azerbaijan’s economy. WPR: […]

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