Page 112 - Azerbaijan State University of Economics
P. 112
THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.82, # 2, 2025, pp. 96-116
The Global Economy.com (no date) Deposit interest rate – country rankings.
Available at: https://www.theglobaleconomy.com/rankings/deposit_interest_rate/
(Accessed: 12 July 2025).
World Bank (2025) Azerbaijan: Macro Poverty Outlook. Available at:
https://thedocs.worldbank.org/en/doc/d5f32ef28464d01f195827b7e020a3e8-
0500022021/related/mpo-aze.pdf (Accessed: 13 July 2025).
World Bank (no date) Foreign direct investment, net inflows (% of GDP)
(BX.KLT.DINV.WD.GD.ZS). Available at:
https://data.worldbank.org/indicator/BX.KLT.DINV.WD.GD.ZS (Accessed: 13 July
2025).
APPENDICES
(Supplementary mathematical derivations, numerical illustrations and compact
extensions)
Appendix A — Full mathematical derivations
A.1 Household problem and first-order conditions
Preferences (log-utility for tractability example):
2
∑ ∞ [ − ]. (A1)
0
{ , , , , , } =0 2
Period budget constraint (nominal):
+ + + = + (1 + ) −1 + (1 + ) −1 + (1 + ) −1 +
− . (A2)
e model transactions services by a liquidity aggregation
= + ,
with , > 0 (convenience yields). Lagrangian:
2
= ∑ ∞ [ − + ( + (1 + ) −1 + (1 + ) −1 + (1 + ) −1 + −
0
=0
2
− − − − )]. (A3)
First-order conditions (selected):
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