International Conference on Eurasian Economies
18-20 June 2018 – Tashkent, UZBEKISTAN
Paper detail
Paper ID : 2038
Status : Paper published
Language : Russian
Topic : Natural Resources and Environment
Presenter: Prof. Dr. Farhad Rahmanov
Session : 2E Развитие
Diversification of Economy the Republics Azerbaijan on Base Sustainable Development of Non-Oil Sector
Диверсификация Экономики Республики Азербайджан На Базе Устойчивого Развития Несырьевого Сектора
- Prof. Dr. Farhad Rahmanov (Azerbaijan State University of Economics, Azerbaijan)
- Assoc. Prof. Dr. Elchin Suleymanov (Baku Engineering University, Azerbaijan)
Abstract
In article experience of diversification of economy of the countries which economic complex is based on production of natural resources is investigated. In the context of the problems facing economy of Azerbaijan and in comparison to foreign countries the course and results of transformations, a role of non-oil sector in development of economy, the potential of positive impacts on country modernization and barriers on the way of realization are considered. The complex of factors – new technologies, institutional reforms, structural changes which in close interference significantly strengthened action of long-term sources of the advancing growth of branches of non-oil sector and its general economy role during the considered period is analyzed. Most important parties of transformation and diversification of economy are defined: transition of branches to modern technological base, functional complication of production, integration into the global markets. Mechanisms of achievement of sustainable development of non-oil branches of economy are characterized, influence of transformations is estimated. Need of development of the concept of sustainable development of not oil sector is noted. The purpose of article is the research of foreign experience of transformation and diversification of economy and development of recommendations about improvement of mechanisms and methods of achievement of sustainable development of non-oil branches of economy of Azerbaijan. In the context of transition of Azerbaijan to a way of innovative development it is important to compare the reached parameters of the considered sphere, to reveal common features and distinctions, to define weak links and comparative advantages of Azerbaijani non-oil sector.
JEL codes:
Rahmanov, Farhad, Suleymanov, Elchin (2018). "Diversification of Economy the Republics Azerbaijan on Base Sustainable Development of Non-Oil Sector" in Proceedings of International Conference of Eurasian Economies 2018, pp.519-528, Tashkent, UZBEKISTAN.
DOI: https://doi.org/10.36880/C10.02038
