Page 106 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.77, # 1, 2020, pp.100-112

5 of these two sectors to the positive and high skewness values for the previously
mentioned sectors, it can be argued that these sectors had lower shares during the post-
boom era compared to the pre-booming period. High positive kurtosis values can be
understood with reference to the fact that, in the 1990s and early 2000s, the national
currency was overvalued and competitiveness had been lost, leading to a decrease in the
employment, and output level. For this reason, relatively high levels of employment in
these sectors are not observed during recent years.

Table 1: Descriptive statistics of employment in economic sectors, 2000–2018.
In thousand persons In year on year %

Mining Manufacturing Services Agriculture Mining Manufacturing Services Agriculture

Observation 19 19 19 19 Observation 18 18 18 18
number (n) number (n)
Min Min
33.70 84.80 895.80 36.40 -12.63 -23.39 -0.41 -34.29
Max 41.00 143.20 1288.60 90.00 Max 11.36 9.79 7.16 25.55
Range -7.30 -58.40 -392.80 -53.60 Range -23.99 -33.18 -7.57 -59.84
Mean 36.91 103.56 1140.72 48.19 Mean -0.67 -1.13 2.06 -2.17
Mode Mode
35.50 N/A N/A N/A #N/A #N/A #N/A #N/A
Median 35.50 102.90 1157.20 45.30 Median -0.27 0.19 1.53 1.66
Standard Standard
Deviation 2.72 11.81 128.54 11.71 Deviation 5.71 8.55 2.13 13.05
Variance 7.38 139.40 16522.63 137.15 Variance 32.63 73.12 4.55 170.35
Coefficient Coefficient
of Variation 0.07 0.11 0.11 0.24 of Variation -8.52 -7.59 1.03 -6.03
Skewness 0.33 2.01 -0.44 2.94 Skewness -0.13 -1.04 0.87 -0.85
Kurtosis Kurtosis
-1.69 6.93 -1.04 9.58 1.46 1.09 0.27 2.35
Source: SSCRA and author’s own calculations.

In year on year growth rate terms (the right-hand side of Table 1), the highest and
the only positive mean value was in services (2.06) while agriculture suffered a -
2.17 growth rate between 2000–2018. The mean value for manufacturing growth (-
1.13) was higher than mining (-0.67). The descriptive statistical analysis shows that
services was the only sector that had positive skewness, while the negative skewness
of mining, manufacturing, and agriculture indicated their higher levels from the pre-
boom and late 1990s. The lower kurtosis values for manufacturing and services can
be interpreted as their relatively normal distribution around the mean, while mining
and agriculture had volatile growth rates over the period.

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