The purpose of the research is to identify the current situation of e-commerce and its connection to the factors of oil industry and propose courses of action in order to enhance its development in Azerbaijan. [...] In accordance with the patterns of the majority of countries, the pandemic influenced the demand for online purchases and the digitization of daily life. [...] For elaboration, the economic growth of the country and the well-being of the population are aided by the escalating shares of the “consumption component” and “production component.” The “consumer component” of the online sector is particularly crucial to the upward trajectory of the economy and the improvement of the condition of Azerbaijani citizens. [...] The removal of time and place restrictions, the protection of personal information, confidence in the company, and the convenience of data access were factors in the contentment of consumers. [...] As mentioned previously, the Central Bank of Azerbaijan started the Instant Payment System (IPS) in pilot mode, referring to the rules of “the State Program on Expansion of Digital Payments in the Republic of Azerbaijan in 2018- 2020.” The purpose was to promote digital payment technologies throughout the nation and strengthen the availability of payment services.
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- Pages
- 51
- Published in
- Azerbaijan
Table of Contents
- CESD Press 1
- Center for Economic and Social Development CESD 1
- Jafar Jabbarli 44 1
- Baku Az 1065 1
- Azerbaijan 1
- Phone 99412 597-06-91 1
- Email infocesd.az 1
- URL www.cesd.az 1
- Baku 2024 1
- Keywords 3
- Introduction 4
- Literature review 6
- Methodology 11
- 1. Periods of e-commerce rise 12
- 1.1 Realization of resource curse after the 2015 oil boom collapse 12
- Figure 1 13
- Volume of GDP at current prices million manats 13
- Figure 2 14
- Figure 3 15
- Figure 4 16
- Figure 4 17
- Sum of Period by Electronic retail trade turnover 17
- Digital Investment 18
- Figure 5 20
- Figure 6 20
- Number of domestic e-commerce transactions million 20
- 2. Influence of e-commerce on financial institutions 21
- Volume of domestic e-commerce transactions million 21
- 2.1 Impact of acceptance of electronic commerce on financial performance 22
- 2.2 E-commerce in small and medium-sized companies 24
- 2.3 Role of start-ups in developing e-commerce in Azerbaijan 25
- 2.4 Technical improvements of the enterprise activities based on factors such as time efficiency cost accessibility transparency and accountability 27
- Figure 7 30
- 2.5 Broader reach into the international market 30
- 3. Obstacles of e-commerce and actions for improvement 32
- 3.1 Main macro-barriers of the development of e-commerce in Azerbaijan including regulations the inertia of companies and the underdevelopment of the IT industry 32
- Figure 8 33
- Number of customer transfers from current accounts 33
- Figure 9 34
- Volume of customer transfers from current accounts 34
- Figure 10 35
- 3.2 Government policy on promoting e-commerce in Azerbaijan 38
- Figure 11 38
- Goverment expenditure 2013-2019 38
- Figure 12 39
- Goverment expenditure 2020-2023 39
- Discussion 41
- Conclusion and recommendations 43
