150
Views
1
CrossRef citations to date
0
Altmetric
Research Articles

Review of new political risks for the multinational energy corporations in the Caspian basin: a study for Azerbaijan

ORCID Icon & ORCID Icon
Pages 323-332 | Received 09 Jan 2021, Accepted 08 May 2022, Published online: 19 May 2022

References

  • Aliyev, M., Huseynov, A., Kerimov, K., & Huseynova, U. (2016) Neft-qaz senayesinin iqtisadiyyati ve idare edilmesi. Baku: Letterpress.
  • Anbar, A., & Suleymanli, J. (2016). Azerbaycan’da Dogrudan Yabanci Yatirimlari etkileyen faktorlerin belirlenmesine yönelik bir uygulama. Akademik Bakis Dergisi, 57, 101–114.
  • Andreff, W., & Andreff, M. (2017). Multinational companies from transition economies and their outward foreign direct investment. Russian Journal of Economics, 3, 445–474. doi:10.1016/j.ruje.2017.12.008
  • Aslanli, K. (2015). Fiscal sustainability and the state oil fund in Azerbaijan. Journal of Eurasian Studies, 6, 114–121. doi:10.1016/j.euras.2015.03.004
  • Aydin, U. (2020). Energy insecurity and renewable energy sources: Prospects and challenges for Azerbaijan. In F. Taghizadeh-Hesary, N. Yoshino, & Y. Chang (Eds.), Energy insecurity in Asia: Challenges, solutions and renewable energy (1st Ed., pp. 163–184). Tokyo: Asian Development Bank Institute.
  • Bayramov, A. (2019). Great game visions and the reality of cooperation around post-Soviet transnational infrastructure projects in the Caspian Sea region. East European Politics, 35, 159–181. doi:10.1080/21599165.2019.1612372
  • Bocse, A.M. (2019). EU energy diplomacy: Searching for new suppliers in Azerbaijan and Iran. Geopolitics, 24, 145–173. doi:10.1080/14650045.2018.1477755
  • Bolesta, A. (2022). From socialism to capitalism with communist characteristics: The building of a post-socialist developmental state in Central Asia. Post-Communist Economies, 34, 71–98. doi:10.1080/14631377.2019.1694350
  • BP. (2020). Statistical review of world energy (69th ed.). Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2020-full-report.pdf (accessed 2020 September 29).
  • Bravo, Y.M.G. (2020). Political risk management practices of multinational corporations: Their approaches to deal with developing countries under economic sanctions. Journal of Evolutionary Studies in Business, 5, 215–247. doi:10.1344/jesb2020.2.j081
  • Colman, Z. (2019). Europe threatens U.S. with carbon tariffs to combat climate change. Retrieved from https://www.politico.com/news/2019/12/13/europe-carbon-tariff-climate-change-084892 (accessed 2022 March 20).
  • Detomasi, D.A. (2007). The multinational corporation and global governance: Modelling global public policy networks. Journal of Business Ethics, 71, 321–334. doi:10.1007/s10551-006-9141-2
  • Encyclopaedia Britannica. (2020). Multinational corporation. Retrieved from https://www.britannica.com/topic/multinational-corporation (accessed 2020 December 5).
  • Fägersten, B. (2015). Political risk and the commercial sector – aligning theory and practice. Risk Management, 17, 23–39. doi:10.1057/rm.2015.5
  • Falkowski, K. (2018). The importance of energy resources for Azerbaijan's international competitiveness. Journal of International Studies, 11, 44–56. doi:10.14254/2071-8330.2018/11-4/3
  • Felver, T.B. (2020). How can Azerbaijan meet its Paris Agreement commitments: Assessing the effectiveness of climate change-related energy policy options using LEAP modeling. Heliyon, 6, e04697. doi:10.1016/j.heliyon.2020.e04697
  • Fitzpatrick, M. (1983). The definition and assessment of political risk in international business: A review of the literature. The Academy of Management Review, 8, 249–254. doi:10.2307/257752
  • Hasanov, F.J., Mahmudlu, C., Deb, K., Abilov, S., & Hasanov, O. (2020). The role of Azeri natural gas in meeting European Union energy security needs. Energy Strategy Reviews, 28, 100464. doi:10.1016/j.esr.2020.100464
  • Hemmert, M. and Jackson, K. (2016). Is there an East Asian model of MNC internalization? A comparative analysis of Japanese and Korean firms. Asia Pacific Business Review, 22:4, 567–594. doi:10.1080/13602381.2016.1168617
  • Hood, J., & Nawaz, M.S. (2004). Political risk exposure and management in multi-national companies: Is there a role for the corporate risk manager? Risk Management. An International Journal, 6, 7–18.
  • Ibrahimov, R. (2015). Turkish-Azerbaijani energy relations: Significant leverage in the implementation of the foreign policy interests of both countries. Insight Turkey, 17, 83–100.
  • Ietto-Gillies, G. (2012). Transnational corporations and international production: Concepts, theories and effects (2nd ed.). Cheltenham: Edward Elgar.
  • Institute of Export and International Trade. (2019). Doing business in Azerbaijan. . Retrieved from http://www.azerbaijan.doingbusinessguide.co.uk/ (accessed 2020 September 5).
  • Josselin, D., & Wallace, W. (2001). Non-state actors in world politics. London: Palgrave Macmillan.
  • Karbuz, S. (2016). The legal status of the Caspian Sea: Implications on Caspian resources development and transport. Energy Policy Turkey, 2, 62–69.
  • Kintsurashvili, K. and Kresic, A. (2019). Azerbaijan diagnostic: European Bank for reconstruction and development. Retrieved from https://www.ebrd.com/publications/country-diagnostics (accessed 2020 September 15).
  • Kuchins, A.C., Mankoff, J., & Backes, O. (2016). Azerbaijan’s foreign economic and security policy. In: A.C. Kuchins, J. Mankoff & O. Backes (Eds.), Azerbaijan in a reconnecting Eurasia: Foreign economic and security Interests (Kindle Ed., pp.4– 24). New York: Rowman & Littlefield.
  • Lussac, S. (2010). The State as a (Oil) Company? The Political Economy of Azerbaijan. GARNET Working Paper No 74/10. Retrieved from https://www.academia.edu/220714/The_State_as_a_Oil_Company_The_Political_Economy_of_Azerbaijan (acessed 2022 March 21).
  • Mehdiyev, A. (2000). Azerbaycan neft senayesi XIX yuzilin son rubund. Baku: Altay.
  • Mehdiyeva, N. (2011). Power games in the Caucasus: Azerbaijan's foreign and energy policy towards the West, Russia and the Middle East. London: Bloomsbury Publishing.
  • Ministry of Economy of Republic of Azerbaijan. (2018). Investments. Retrieved from https://www.economy.gov.az/en/article/iq-yon-invest/23015 (accessed 2020 September 2).
  • Morrison, L. (2017–2018). Southern gas corridor: The geopolitical and geo-economic implications of an energy mega-project. The Journal of Energy and Development, 43, 251–291.
  • New York Times. (2020). BP reports a huge loss and vows to increase renewable investment. Retrieved from https://www.nytimes.com/2020/08/04/business/energy-environment/bp-renewable-investment.html (accessed 2020 October 25).
  • Niftiyev, I, University of Szeged (2021). Dutch disease effects in the Azerbaijan economy: Results of multivariate linear ordinary least squares (OLS) estimations. Higher School of Economics Economic Journal, 25, 309–346. doi:10.17323/1813-8691-2021-25-2-309-346
  • Nye, S.J. (2005). Yumusak güc. Ankara: Elips Yayinlari.
  • OECD. (2019). Investment in sustainable infrastructure in Azerbaijan. In: L. Johanson (Ed.), Sustainable infrastructure for low-carbon development in Central Asia and the Caucasus: Hotspot Analysis and needs assessment. Green finance and investment. Paris: OECD Publishing.
  • Orazgaliyev, S. (2018). Reconstructing MNE-host country bargaining model in the international oil industry. Transnational Corporations Review, 10, 30–42. doi:10.1080/19186444.2018.1436646
  • Ozdemir, V., Yavuz, H.B., & Tokgöz, E. (2015). The Trans-Anatolian Pipeline (TANAP) as a unique project in the Eurasian gas network: A comparative analysis. Utilities Policy, 37, 97–103. doi:10.1016/j.jup.2015.06.007
  • Rzayeva, G. (2017). Azerbaycan Respublikasinin enerji diplomatiyasi xarici siyasetinin terkib hissesi kimi. In: F. Mammadov, C. Veliyev & A. Mammadov (Eds.), Azerbaycan Respublikasinin xarici siyasetinin esas istiqametleri (1991–2016) (1 st Ed., pp. 759–786). Baku: “Poliart” MMC.
  • Sawada, Y. (2020). Foreword. In: A. Hampel-Milagrosa, A. Haydarov, K. Anderson, J. Sibal & E. Ginting (Eds.), Azerbaijan: Moving toward more diversified, resilient, and inclusive development (1st Ed., pp. ix–x). Tokyo: Asian Development Bank.
  • SOCAR. (2020a). Production sharing agreements (Offshore). Retrieved from http://socar.az/socar/en/company/production-sharing-agreements-offshore/absheron (accessed 2020 September 2).
  • SOCAR (2020b). Production sharing agreements (Onshore). Retrieved from http://socar.az/socar/en/company/production-sharing-agreements-onshore/balakhany-and-other-fields (accessed 2020 September 2).
  • Sovacool, B.K. (2012). Reconfiguring territoriality and energy security: Global production networks and the Baku–Tbilisi–Ceyhan (BTC) pipeline. Journal of Cleaner Production, 32, 210–218. doi:10.1016/j.jclepro.2012.04.002
  • State Statistical Committee of Republic of Azerbaijan. (2019a). Labour. Retrieved from https://www.stat.gov.az/source/labour/ (accessed 2020 May 18).
  • State Statistical Committee of the Republic of Azerbaijan. (2019b). System of national accounts and balance of payment. Retrieved from https://www.stat.gov.az/source/system_nat_accounts/ (accessed 2020 September 7).
  • Stocker, M., Baffes, J. and Vorisek, D. (2018). What triggered the oil price plunge of 2014–2016 and why it failed to deliver an economic impetus in eight charts. Retrieved from https://blogs.worldbank.org/developmenttalk/what-triggered-oil-price-plunge-2014-2016-and-why-it-failed-deliver-economic-impetus-eight-charts#:∼:text=Between%20mid%2D2014%20and%20early,supply%2Ddriven%20collapse%20of%201986 (accessed 2020 September 21).
  • Total. (2020). Developing profitable activities in low-carbon electricity business. https://www.total.com/commitment/climate-change/low-carbon-electricity (accessed 2020 October 25).
  • Truitt, J.F. (1974). Expropriation of private investment. Indiana: Division of Research, Graduate School of Business, Indiana University.
  • Veliyev, A.J., & Ahmadov, Z.Z., Baku Business University, Azerbaijan, [email protected]. (2017). The role of the energy potential of Azerbaijan in the European Union energy supply. Studia Universitatis Babeș-Bolyai Studia Europaea, 62, 151–165. doi:10.24193/subbeuropaea.2017.4.11
  • Yan, L. (2012). Analysis of the international oil price fluctuations and its influencing factors. American Journal of Industrial and Business Management, 02, 39–46. doi:10.4236/ajibm.2012.22006
  • Zulfigarov, F., & Neuenkirch, M. (2020). The impact of oil price changes on selected macroeconomic indicators in Azerbaijan. Economic Systems, 44, 100814. doi:10.1016/j.ecosys.2020.100814

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.