The emergence of the COVID-19 crisis,similar to the financial crisis of the 1980s and 1990s,has once more threatened the international economic systems.The rapid transmission of the Coronavirus has created travel bans...The emergence of the COVID-19 crisis,similar to the financial crisis of the 1980s and 1990s,has once more threatened the international economic systems.The rapid transmission of the Coronavirus has created travel bans and commuting restrictions on national and international scales,causing a severe recession in the world economy.This is more conspicuous in oil-exporting countries as petroleum products and prices have plummeted down.A good example of the countries that depend on oil and gas exports is Azerbaijan,a country whose domestic economy has not been unaffected by the COVID-19 crisis.This study explores how the COVID-19 crisis has affected Azerbaijan’s economic security.The hypothesis is that due to this pandemic and the reduction of petroleum prices on an international scale,the Azerbaijan’s economy now has declined and the government faces the reduction of oil production,and the devaluation of Azerbaijan’s currency,manat.Moreover,travel bans due to the Coronavirus have dramatically affected Azerbaijan’s other economic sectors and industries such as tourism.All these issues have seriously threatened Azerbaijan’s economic security and the economy will not grow significantly in the near future.展开更多
文摘The emergence of the COVID-19 crisis,similar to the financial crisis of the 1980s and 1990s,has once more threatened the international economic systems.The rapid transmission of the Coronavirus has created travel bans and commuting restrictions on national and international scales,causing a severe recession in the world economy.This is more conspicuous in oil-exporting countries as petroleum products and prices have plummeted down.A good example of the countries that depend on oil and gas exports is Azerbaijan,a country whose domestic economy has not been unaffected by the COVID-19 crisis.This study explores how the COVID-19 crisis has affected Azerbaijan’s economic security.The hypothesis is that due to this pandemic and the reduction of petroleum prices on an international scale,the Azerbaijan’s economy now has declined and the government faces the reduction of oil production,and the devaluation of Azerbaijan’s currency,manat.Moreover,travel bans due to the Coronavirus have dramatically affected Azerbaijan’s other economic sectors and industries such as tourism.All these issues have seriously threatened Azerbaijan’s economic security and the economy will not grow significantly in the near future.