This paper discusses the status of financial inclusion, education, and literacy in Azerbaijan as well as measures to foster the development of SMEs, which currently have inadequate access to financial resources. The primary policy challenge faced by the government of Azerbaijan is defining its...

This paper discusses the status of financial inclusion, education, and literacy in Azerbaijan as well as measures to foster the development of SMEs, which currently have inadequate access to financial resources. The primary policy challenge faced by the government of Azerbaijan is defining its...

English Abstract: In the monograph, in addition to the comparative analysis of the privatization experience of foreign countries with Azerbaijan, the redistribution of property rights in the post-privatization period, corporate management and control models, the development dynamics of the...

Economic cooperation between the West and Azerbaijan is mainly based on the energy sector. Currently, to ensure the consistency of foreign investments and the sustainability of oil and gas revenues, the main task facing the Azerbaijani authorities is to increase the supply of gas to Europe and...

As of June 1, 2023, 24 banks are operating in Azerbaijan, 2 state and 22 commercial banks. Concentration in the banking system is high. One factor determining the increase of concentration on the financial market as a whole and the decrease of competitiveness in the banking market is the...

In 2022, 207.2 million manats were allocated from the state budget to finance international, country-level, and other similar events by the official Baku, and 207 million manats were forecasted for this purpose in the 2023 budget. The practice of financing international events at the expense of...

Azerbaijan, which declared an interest in the Extractive Industries Transparency Initiative (EITI) ten years ago and joined it as a pilot country, is one of twenty-five compliant countries among the initiative's thirty-nine members around the globe. The past eight years marked an important...

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) regularly publishes quarterly and annual statements on revenues, expenditures, and assets. The statements are available to the public. What do they reveal about the Fund's investments and management strategies?In this publication, I would...

You may have heard of the term rentier state. It means that state budget of a resource-rich country comprises mostly of oil revenues, not taxpayer money or for-profit companies. The term has been used to describe Arab countries during the oil boom in the 1970s.In a rentier state, the level of...

One of the political effects of natural resource development is an increase in state budget resources directed at modernization. However, in Azerbaijan, infrastructure modernization has taken an odd turn: the government has been funding special interests rather than public needs. Instead of...