Head of the Department of World Economy, Baku Engineering University, Ph.D. in Economics Shahriyar Mukhtarov's article “The impact of bank credits on non-oil GDP: Evidence from Azerbaijan” has been published in the 2nd issue of 2019, and 14th volume of "Banks and Bank Systems" journal . The magazine is indexed in the Scopus database, which is considered one of the most influential databases in the world.

    The article analyzed the impact of bank loans on non-oil GDP using various cointegration methods (FMOLS, DOLS, CCR) using statistics for 2005-2019. According to the article, the increase in bank loans has a positive impact on non-oil GDP in Azerbaijan. Based on the results of the study, the importance of financial development in diversifying the economy and ensuring sustainable development in Azerbaijan was emphasized, and a number of proposals were made in this direction.

    The article can be read at this link:

http://businessperspectives.org/journals/banks-and-bank-systems/issue-320/the-impact-of-bank-credits-on-non-oil-gdp-evidence-from-azerbaijan