Oil price changes has a great influence on the behaviour of firms in oil exporting countries which displays itself in amount of non‑oil tax receipts of the state budget. Employing FMOLS, DOLS, and CCR cointegration methods for 2001Q1–2015Q4, the study aims to analyse how oil price changes affects non‑oil tax revenues in Azerbaijan. Empirical results altogether provide strong scientific evidence that there is U‑shaped causality from oil price changes to total non‑oil tax revenues , corporate income tax receipts and labour income tax payments , and inverse U‑shaped to non‑oil VAT revenues of the state budget. Results show that firms face with the trade‑off between “produce‑and‑sell” and “import‑and‑sell” as oil price rises. In case of higher price than the threshold level, companies prefer the latter choice. Research findings are highly useful for the public policy decision‑makers in resource rich economies.
The return to education and the gender wage gap are essential issues in the public policy decision-making. Return to wage from attainment of each additional educational level can be a valuable incentive to stimulate people towards higher levels of schooling. The study investigates the return from a higher level of education to hourly earnings and the gap in “returns” due to gender identity differences in the case of Azerbaijan, a resource-rich developing country. We argue that a return to hourly wage from an additional level of education is positive and moderated by gender identity. Based on a pooled cross-sectional dataset (N=4548, n_male=2617; n_female=1931,〖Mean〗_age=34.18), empirical results support the research hypothesis and display a continuous positive return from education attainment. Simultaneously, a lesser return is identified for females. The gender return gap extends further for post-bachelor degrees. The results of this research can help deliver the message of “to earn more, learn more” at the micro-level and aid public policy officials in designing educational and gender-related policies at the macro level.
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