The article titled "Economy-wide and Environmental Benefits of Green Energy Development in Oil-Rich Countries: Evidence from Azerbaijan" by Prof. Dr. Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication was published in the journal Economic Annals, a quarterly publication of the University of Belgrade, Serbia. This article highlights Azerbaijan's significant progress in green energy production and export, leveraging its full potential. The Caspian-Black Sea-Europe green energy corridor, where Azerbaijan plays a key role, is designed to connect Azerbaijan with Europe in the first phase, with a second phase aiming to connect Central Asia to Europe. Azerbaijan’s advancements in this sector are expected to contribute to reducing carbon emissions, leading to global environmental benefits.

The study assesses the socio-economic and ecological impacts of Azerbaijan's transition to green energy, and the findings indicate that current initiatives in green energy transition will yield substantial returns in the near future. Since 1955, Economic Annals has published articles that are indexed in the Scopus database. Each year, the journal publishes a total of 20 top articles across its four quarterly issues, with five articles in each issue.

The article was co-authored by Ramil Huseyn, and Rashad Huseynov.

You can read the article at this link: https://ereforms.gov.az/az/publication/30