WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 19, 2022
Analysis of the Relationship Between the Economic Confidence Index and GDP Growth in Azerbaijan
Authors: Arzu Huseynova, Ophelya Mazanova, Simuzar Mammadova, Saadat Majidova, Afaq Aslanova, Samira Rustamova
Abstract: The paper focuses on the economic policy in Azerbaijan directed to eliminate the results of the Covid-19 pandemic and the return of the country’s economy to purposeful structural reforms to ensure productivity and economic growth gradually. Today, the main goal is to direct economic policy to eliminate the results of the Covid-19 pandemic. To analyze short-term economic indicators is important to control economic development in real-time to make operational decisions and to give decision-makers early signals of turning points in economic activity. Monitoring of processes that occurred in the real sector of the economy is carried out through questionnaires. The importance of determining the economic indicators required to assess economic activity in Azerbaijan is considered appropriate. The proposed economic confidence index is considered reliable and important for analysis, forecasting. Special software provides time sequence visualization and integration capabilities. The Economic Confidence Index should assess economic activity as the preventive indicator.
Keywords: Economic Confidence Index, Gross Domestic Product (GDP), economic shocks, economic indicators, Business Activity Index of Real Sector, Monitoring
DOI: 10.37394/23207.2022.19.75WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 19, 2022, Art. #75