Cihan Bulut

• Doctor of Economics
• George Brown College

This study addresses the relationship between economics and mathematics, drawing attention to the fact that although economics is a social science, mathematics plays an important role in understanding economic processes. Due to the complexity of human behavior, it isn't easy to achieve mathematical precision in economics. However, thanks to mathema...

BTCEN’s innovative approach combines technology and environmental initiatives, setting a standard for how businesses can achieve both commercial and environmental goals. By making recycling an integral and rewarding part of daily life, BTCEN paves the way for a more sustainable future.

In my study on the supply chain and blockchain technology, with a emphasis on BTCEN, I investigate blockchain's transformational potential in changing traditional supply chain management. The paper looks at how BTCEN, as a sample instance, uses blockchain to improve transparency, traceability, and efficiency throughout the supply chain. By investig...

Abstract Undoubtedly, oil price plays a great role in the macroeconomic performance of the oil-exporting developing countries. In this regard, exchange rate is one of the key macroeconomic indicators of these countries to investigate in the backdrop of oil price dynamics. The aim of our study is to examine the impact of the oil price on the exchang...

For Azerbaijan, Russia and Kazakhstan as Post-Soviet countries, oil exports are main revenues sources. These three resource rich countries implemented notable oil projects since independence and as a result acquired significant oil revenues. Due to major part of export goes to oil and relevant sectors; especially after 2000 these gained huge revenu...

For Azerbaijan, Russia and Kazakhstan as Post-Soviet countries, oil exports are main revenues sources. These three resource rich countries implemented notable oil projects since independence and as a result acquired significant oil revenues. Due to major part of export goes to oil and relevant sectors; especially after 2000 these gained huge revenu...

Undoubtedly, oil price plays a great role in the macroeconomic performance of the oil-exporting developing countries. In this regard, exchange rate is one of the key macroeconomic indicators of these countries to investigate in the backdrop of oil price dynamics. The aim of our study is to examine the impact of the oil price on the exchange rate of...

Thus Azerbaijan became one of the countries, which balances economic and political relationships in the region. This characteristic comes from the geopolitical position of Azerbaijan. Located in the region of the Southern Caucasus, Azerbaijan has huge natural resources, which triggered the development of economy. The integration of Azerbaijan econo...

Azerbaijan, Russia and Kazakhstan as Post-Soviet countries are known fortheir oil-gas industry and its huge share in their economies. Considering these mentioned points, these countries are supposed to be the most relevant countries for common analysis. The role of social related expenditures in the state budgets was examined throughout the years f...

Azerbaijan, Russia and Kazakhstan as Post-Soviet countries are known fortheir oil-gas industry and its huge share in their economies. Considering these mentioned points, these countries are supposed to be the most relevant countries for common analysis. The role of social related expenditures in the state budgets was examined throughout the years f...

The paper examines the energy-growth nexus in ten oil-exporting developing Eurasian countries: Azerbaijan, Bahrain, Iran, Kazakhstan, Kuwait, Oman, Qatar, Russia, Saudi Arabia and the UAE over the period 1997–2014. Lack of enough energy-growth nexus studies on the oil exporters of the Middle East and Commonwealth of Independent States coupled with...

Preponderance of industrial states is completely dependent on energy to fuel their economies. Besides, globalization has made the world to be so interconnected and interdependent that the energy industry is the biggest contributor of the climate change which doesn't affect a single country but have far wider implications. The growing awareness of t...

Preponderance of industrial states is completely dependent on energy to fuel their economies. Besides, globalization has made the world to be so interconnected and interdependent that the energy industry is the biggest contributor of the climate change which doesn't affect a single country but have far wider implications. The growing awareness of t...

Undoubtedly, oil prices play a crucial role in the macroeconomic performances of oil-exporting developing countries. In this regard, the exchange rate is one of the key macroeconomic indicators worthy of investigation. Existing literature shows that world oil prices play an important role in the appreciation of the exchange rates of oil-exporting d...

This paper discusses that the revenues from the oil exports are main part of total revenues in Azerbaijan, Kazakhstan and Russia, the former Soviet Union countries. These resource rich countries have implemented notable oil projects by involving foreign oil companies since independence and made significant oil revenues. The major part of these oil...

Undoubtedly, oil prices play a crucial role in the macroeconomic performances of oil-exporting developing countries. In this regard, the exchange rate is one of the key macroeconomic indicators worthy of investigation. Existing literature shows that world oil prices play an important role in the appreciation of the exchange rates of oil-exporting d...

This paper discusses that the revenues from the oil exports are main part of total revenues in Azerbaijan, Kazakhstan and Russia, the former Soviet Union countries. These resource rich countries have implemented notable oil projects by involving foreign oil companies since independence and made significant oil revenues. The major part of these oil...

THE IMPACT OF THE OIL PRICE FLUCTUATIONS ON THE ECONOMIC POLICIESINTHE OIL-EXPORTING COUNTRIES OF THE FORMER SOVIET UNION This paper discusses that the revenues from the oil exports are main part of total revenues in Azerbaijan, Kazakhstan and Russia, the former Soviet Union countries. These resource rich countries have implemented notable oil proj...

Preponderance of industrial states is completely dependent on energy to fuel their economies. Besides, globalization has made the world to be so interconnected and interdependent that the energy industry is the biggest contributor of the climate change which doesn’t affect a single country but have far wider implications. The growing awareness of t...

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Existing literature shows that world oil price plays an imperative role in appreciation of exchange rate of oil exporting developing economies. However, a few studies examines this issue in oil-exporting economies of Commonwealth Independent States. In order to fill this gap and considering an increasing importance of oil-exporting economies of Com...

Existing literature shows that world oil price plays an imperative role in appreciation of exchange rate of oil exporting developing economies. However, a few studies examines this issue in oil-exporting economies of Commonwealth Independent States. In order to fill this gap and considering an increasing importance of oil-exporting economies of Com...

This paper discusses that the revenues from the oil exports are main part of total revenues in Azerbaijan, Kazakhstan and Russia, the former Soviet Union countries. These resource rich countries have implemented notable oil projects by involving foreign oil companies since independence and made significant oil revenues. The major part of these oil...

For Azerbaijan, Russia and Kazakhistan as Post-Soviet countries, oil exports are main revenues sources. These three resource rich countries implemented notable oil projects since independence and as a result acquired significant oil revenues. Due to major part of export goes to oil and relevant sectors; especially after 2000 these gained huge reven...

This study examines the impacts of the population age groups of 20–34, 35–49, 50–64 and 65–79 on the per capita energy use of the oil-exporting countries of Commonwealth Independent States: Azerbaijan, Kazakhstan and Russia employing the modified-STIRPAT framework. Considering that estimations using non-stationary data may yield spurious results, u...

The total cost of terror acts perpetuated in 2014 was 52.9 billion USD in 2014 which is the highest since 2001 in accords with new 2015 Global Terrorism Index. In the Index if we look at the figures on different years we may come to conclusion that the highest point in terrorism cost reached in 2014 even surpassing the impact felt in 2001 as t...

It is obvious that population growth among other factors such as price, income, has certain impact on energy use. From the population point of view, one of the interesting research questions to investigate would be what are the impacts of different age groups of population on energy use? In this study, we examine impact of total population as well...

Actuarial calculation of loss reserves with Cape Code and Additive methods Abstract The aim of this research is actuarial calculation of the technical reserves which is intended for possible payments of any insurance company and not paid yet by using separation methods. Firstly, these methods and calculations were made in the sample of Azerbaijan...

This study examines the impacts of the population age groups of 20–34, 35–49, 50–64 and 65–79 on the per capita energy use of the oil-exporting countries of Commonwealth Independent States: Azerbaijan, Kazakhstan and Russia employing the modified-STIRPAT framework. Considering that estimations using non-stationary data may yield spurious results, u...

Dövlətin ictimai, iqtisadi, tarixi vəmədəni həyatdakıfəaliyyətləri dövlət maliyyəsinin əhəmiyyətini və əhatədairəsini artırmaqdadır. Klassik iqtisad məktəbinin nümayəndələrinin “Buraxın etsinlər, buraxın keçsinlər” deyimi, liberal iqtisadiyyat vəinzibati dövlət anlayışıilədövlət fəaliyyətlərini ən alt səviyyədənəzərdətutmuşdur. Kapitalizmin meydan...

Dövlətin ictimai, iqtisadi, tarixi vəmədəni həyatdakıfəaliyyətləri dövlət maliyyəsinin əhəmiyyətini və əhatədairəsini artırmaqdadır. Klassik iqtisad məktəbinin nümayəndələrinin “Buraxın etsinlər, buraxın keçsinlər” deyimi, liberal iqtisadiyyat vəinzibati dövlət anlayışıilədövlət fəaliyyətlərini ən alt səviyyədənəzərdətutmuşdur. Kapitalizmin meydan...

It is obvious that population growth among other factors such as price, income, has certain impact on energy use. From the population point of view, one of the interesting research questions to investigate would be what are the impacts of different age groups of population on energy use? In this study, we examine impact of total population as well...

The aim of our study is to examine the impact of the oil revenues on the standard of living in oil-exporting countries of the former Soviet Union and to make policy suggestions based on the obtained findings. It has been explain that resource dependency adjust the structure of these countries' economies, which leads to income inequality compensatio...

The aim of our study is to examine the impact of the oil revenues on the standard of living in oil-exporting countries of the former Soviet Union and to make policy suggestions based on the obtained findings. It has been explain that resource dependency adjust the structure of these countries' economies, which leads to income inequality compensatio...

The aim of our study is to examine the impact of the oil revenues on the standard of living in oil-exporting countries of the former Soviet Union and to make policy suggestions based on the obtained findings. It has been explain that resource dependency adjust the structure of these countries' economies, which leads to income inequality compensatio...

POLICY From past to present, relationship between energy consumption and economic growth is one of the important topics for discussion in terms of both theoretical and reduction to practice. In our daily lives, energy consumption having an indispensable place is becoming more important with each passing day. Despite the growing energy needs, consis...

Turkish Abstract: Çalışmamızın amacı, eski Sovyetler Birliği'nin petrol ihraç eden ülkelerdeki yaşam standardı üzerinde petrol gelirlerinin etkisini incelemek ve elde edilen bulgulara dayalı politika önerileri yapmaktır. Kaynak bağımlılığı ekonominin farklı sektörlerinde gelir eşitsizliği değişikliklere yol açar, bu ülkelerin ekonomilerinin yapısın...

After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started to transform to the market-based economy and to integrate into the world economy. The country’s oil and natural gas reserves have been considered the main source for financing range of government programs for reforms. On the one hand, these reserves had to be u...

Universitetlər onlardan tələb olunan vəzifələri yerinə yetirə bilmək üçün həm qlobal, həm yerli şəraiti çox yaxşı bilməli, bu şəraitin tələb etdiyi aktual təhsil sisteminə sahib olmalı, sürətlə baş verən dəyişikliklərdən geridə qalmamalı, onlara çevik ayaq uydurmaq qabiliyyətinə malik olmalıdırlar. Məqalədə bu istiqamətdə görülə biləcək işlər, məhs...

Azerbaijan, which is one of the countries gained its political independence after the collapse of the Union of Soviet Socialist Republics (USSR), has started using the advantages, i.e. its rich oil and natural gas reserves as a locomotive power to achieve economic reconstruction and development, and to integrate into the global world. The energy se...

Günümüz dünyasında toplumlar ve kültürler çok hızlı bir değişim ve dönüşüm sürecine girmiştir. Bu yeni yapılanma çağına “bilgi çağı” ve yeni yapılanan topluma da “bilgi toplumu” denilmektedir. Gelişmekte olan ülkelerin sahip oldukları genç nüfus avantajı, bilgiye dayalı teknolojilerin üretimini kolaylaştırarak geri kalmışlık kısır döngüsünden kurtu...

During the globalization process, each country tries to have monetary stability, macro economic discipline, an effective finance system, and a more competitive market mechanism. On the aspects of applied policies and politicians’ reliability, their accountability and transparency is far important to reach the economic stability target. Azerbaijan’s...

This paper presents the evaluation of Azerbaijani Economy from the perspective of information technologies and educational opportunities. The progresses on information technologies (IT) that denominated to this century have become the principal determinants of economic activities. Given advantage of its young educated population, Azerbaijan as one...

Bu makalede son donemde ABD de konut sektöründe fiyatların “balon etkisi” (konut fiyatlarının yapay olarak aşırı yükselmesi) neticesinde patlak veren ve kısa surede tüm dünya ülkeleri üzerinde etkili olan Global Finansal Krize sebebiyet veren faktörler (iktisadi ve iktisat-dışı faktörler sabit olmakla birlikte) arasında özellikle son donemde ekonom...

Kamu sektörünün ekonomideki payı, yirminci yüzyılın başlarından itibaren bazı nedenlerle (gerçek ve görünür) artış göstermektedir. Özellikle döneme hakim olan Keynezyen İktisat düşüncesi ile kamu sektörünün ekonomideki gücü, belirgin şekilde artmıştır. Kamu sektörünün özel sektörden farklı olarak kârlılık gibi bir amacının olmaması, sektör zararını...

Sermaye yetersizliği gelişmekte olan ülkelerde gelişmiş ülkelere göre daha fazladır. Bu nedenle gelişmekte olan ülkelere gelecek sermaye akımı önemli olmaktadır. Buraya gelecek olan sermaye, doğrudan yatırım sermayesi ve kısa vadeli fırsat amaçlı sermaye olarak ayrılabilir. Yatırım faaliyetlerini gerçekleştiren, ülke kalkınmasında daha fazla etkili...

Cumhuriyet’in ilk on yıllık döneminde, özel girişime dayalı liberal ekonomi politikaları uygulanmıştır. Bu dönemde özel sektör korunarak teşvik edilmiştir. Devlet bu dönemde, bazı önemli alt yapı yatırımlarını yaparken, piyasa ekonomisinin çalışmasına yönelik gerekli yasal ve kurumsal düzenlemeleri de gerçekleştirmiştir. Fakat o günün sermaye yeter...

Kamunun ekonomide payı 20. yy.’dan beri gerçek ve görünürdeki sebeplerle artmıştır. Özellikle dönemi etkisi altına alan Keynesyen Ekonomic Anlayışla bu artış hızlı olmuştur. Ancak, kamu sektöründe özel sektör gibi bir kârlılık amacının olmaması, hareket kabiliyetinin düşüklüğü kamu açıklarına neden olmuştur. Hususen gelişmekte olan ülkelerdeki siya...

In this paper, we investigate whether currency substitution can affect exchange rate uncertainty for the Turkish economy. Considering the whole time period 1987M01-2006M12 as well as sub-periods 1987M01-1999M12 and 2001M03-2006M12 for sensitivity analysis, our estimation results employing contemporaneous exponential GARCH (EGARCH) methodology of Ne...

DTÖ, uluslararası ticareti maksimum seviyede liberalleştirerek, serbest ve şeffaf rekabet şartları altında dünya refah seviyesinin artırılmasını amaçlamaktadır Bu çalışma, çağdaş dünyada kendi yerini en iyi şekilde almaya hazırlanan Azerbaycan Cumhuriyeti’nin 23 Haziran 1997 tarihinden beri DTÖ’ne üye olma çalışmalarını ve üyelik durumunu ele almak...

Every country has experienced various capital accumulation processes due to their own specific conditions.Differences in these conditions have ensured various countries to enter the process of economic development in dissimilar historical periods. Due to the central characteristic of the previous command economic system and the impact of powerful h...

This article will be examine the short relationships between economic growth and insurance sector development in the Azerbaijan economy. The fixed-effect model was adopted and relevant data within the period of 2008 and 2012 were collated and analysed with the use of ordinary least squares (OLS). Gross domestic product (GDP) was adopted as a proxy...

After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country s oil and natural gas reserves have been considered the main source for financing a range of government programs for reforms. On the one hand, these reserves...

In this research evaluates the investments of rich oil and natural gas source owner and the most blooming country of the world - Azerbaijan’s investments in Turkey and its impacts to preventing Dutch Disease problem Azerbaijan economy. After giving brief information about economy of Azerbaijan, the research analyzes SOCAR’s investment on petrochemi...

Globalleflen günümüz dünyas›nda ülkelerin geliflme ve kalk›nmas›ndaki en önemli faktörlerden birisi o ülkenin özelliklerine ve ihtiyaçlar›na uygun e¤itim sistemlerinin oluflturulmas› olmufltur. 1990 sonras›nda serbest piyasa ekonomisine geçen Azerbaycan, küresel rekabette kendine mahsus yeri almak üzere h›zla geliflmektedir. Bu süreçte al›nan yeni...

1 ÖN SÖZ Dövlətin ictimai, iqtisadi, tarixi və mədəni həyatdakı fəaliyyətləri dövlət maliyyəsi sisteminin əhəmiyyətini və əhatə dairəsini artırmaqdadır. Klassik iqtisad məktəbinin nümayəndələrinin “Buraxın etsinlər, buraxın keçsinlər” deyimi, liberal iqtisadiyyat və inzibati dövlət anlayısı ilə dövlət fəaliyyətlərini ən alt səviyyədə nəzərdə tutmus...

Dünya ekonomisinde hızlı büyüme sürecinin gerçekleştiği 2003-2006 döneminden sonra 2007 yılı son çeyreğinden itibaren, ABD konut sektörü ve onun paralelinde kredi piyasasında yaşanan problemlerle global büyüme hızı üzerinde önemli ve kalıcı bir olumsuzluk ortaya çıkmıştır. Global ekonomik kriz dünya ekonomisine iyi entegre olmuş Azerbaycan ekonomis...

One of the most important developments of the 21st century is financial globalization. Financial globalization affects other economic spheres and economic activities deeply. Also financial globalization restricts national economic policies of nation states. Financial globalization produces both important new opportunities and advantages and new dra...

Türkiye’nin başta Azerbaycan olmak üzere Kafkasya ve Orta Asya’ya dönük politikasında öncelik vermesi gereken noktalar ise şöyle sıralanabilir: 1. Bölge ülkelerini kapsayacak ortak kalkınma işbirliği stratejilerinin geliştirilmesine, 2. Bölgeye yönelik Sigortacılık Birliğinin kurulmasına, 3. Bölgede çalışacak uluslararası bir tahkim sisteminin kuru...

After the World War 2nd many countries which tried to rescue itself from the situations, have used its choice in the free trade practicing. The studying and improved practices on this point have been continue d with increasing. At the