Comparison of Central Bank Approaches to Current Challenges: Azerbaijan and Turkey

Omar Guliyev

Bakalářská práce

Abstract:

This bachelor thesis compared the monetary policy approaches of Azerbaijan and Turkey between 2000 and 2023. It aimed to assess how both countries responded to macroeconomic shocks, evaluate the stability of the given period, and provide recommendations for improving central bank strategies. A mixed-methods approach was used, combining literature-based qualitative analysis with quantitative methods such as descriptive statistics, correlation analysis, and time series evaluation. The study focused on four key indicators: interest rate, exchange rate, broad money (% of GDP), and inflation rate. The findings showed that Azerbaijan maintained a more stable and controlled monetary policy under a fixed exchange rate regime, while Turkey’s floating regime led to volatility in inflation and currency value. The thesis concluded that clear, independent, and consistent monetary policy, along with a suitable exchange rate framework, were essential for achieving macroeconomic stability.

Keywords

comparative analysis, monetary policy, Azerbaijan, macroeconomics, Turkey

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 16. 3. 2026

Obhajoba závěrečné práce

• Obhajoba proběhla 20. 5. 2026
• Vedoucí: Ing. David Křížek, Ph.D.
• Oponent: Rohit Bharati, MSc Ph.D.

Česká zemědělská univerzita v Praze

Provozně ekonomická fakulta

Bakalářský studijní program:
Business Administration