Held the next meeting of the Scientific Council of the Institute of Economics of the Ministry of Science and Education on December 25, 2024. The meeting, chaired by Director General, Professor Nazim Muzaffarli, heard the annual report on the scientific research work carried out by the Institute in 2024
Scientific Secretary, Doctor of Economic Sciences Leyli Allahverdiyeva made a report. The scientific secretary gave information about the state institutions, local and foreign universities with which the Institute cooperates, and held meetings within the framework of international cooperation, and she noted that a number of important scientific results were achieved during the year. Thus, for the first time, the Institute of Economics measured and analyzed the degree of state intervention in prices in different countries based on fuzzy logic. The measurements were conducted in two formats - on direct interventions and on the overall level of intervention. On the base of this, two new indicators were calculated - the Index of Direct Price Intervention and the Index of Price Regulation. The applied methodological approaches are original. Based on the results obtained, appropriate ratings were compiled, and investigated the socio-economic impacts of price intervention. Based on cross-country comparative research have been developed recommendations for improving price regulation in Azerbaijan. The results of the study, commissioned by the Ministry of Finance of the Republic of Azerbaijan, and were published in the form of a book (“State Regulation of Prices: A Cross-Country Comparative Analysis. Results for Azerbaijan”).
By an order of the Executive Power of Shamakhi District, a study was conducted to assess the opportunities for attracting private investment to the Shamakhi District and carried out an incentive and support mechanism to increase its attractiveness. Along with a number of practical proposals, was developed a concept for promoting the investment attractiveness and business opportunities of Shamakhi, the feasibility of establishing the Nagorno-Shirvan Regional Innovative Development Center (LMB’s clusters) in Shamakhi was substantiated, and was developed its organizational structure. The project "Preparation of proposals and recommendations for improving the mechanism of financing science" was implemented by an order of the Ministry of Science and Education.
L. Allahverdiyeva gave information that was organized a scientific session by the Institute of Economics with the participation of Chinese scientists, held a republican scientific conference on "Development of export-oriented industry: industrialization policy and infrastructure supplies" at Nakhchivan State University, and held a business forum with the participation of entrepreneurs within the framework of the project "Development of incentive and support mechanisms to increase the attractiveness of Shamakhi region for private investments".
The scientific secretary noted that during the year, 4 monographs, 2 textbooks, 4 programs and methodological aids, 170 scientific articles, including 70 scientific articles abroad (29 in journals with impact factors), were published by the Institute's employees. Organized 8 scientific seminars dedicated to the discussion of various current scientific topics. The institute's employees participated in scientific seminars and gave lectures at various universities. During the year, the staff published more than 40 scientific articles and gave interviews in local and foreign media.
There are 66 Doctoral and Ph.D. students at our institute. 13 Ph.D. students (2 in D.Sc. scientific degree and 11 in Ph.D. scientific degree) have been defended their scientific degree at the Dissertation Council.
During the year, about 200 original news items related to the Institute's activities were posted on the economics.org.az website. The number of visits and views reached to 1.2 million to the Institute's official website "economics.org.az", which started operating with a completely updated design in 2024. 173 (10 of them in 2024) video materials were posted on our YouTube channel, most of them were interviews and including expert speeches by our scientists on TV channels. During the year, 168 copies of literature were added to our library's collection.
The Scientific Council announced the results of the competition for planned scientific research works to be implemented at the Institute in 2024, dedicated to Victory Day, in order to improve the quality of scientific research and provide additional incentives for employees.
Director General, Prof. Nazim Muzaffarli announced the names of the winners and presented them with corresponding diplomas. Thus, the winner of the competition among scientific departments was the Department of Inclusive Social Development (Head of Department, Doctor of Economic Sciences Rasmiyya Abdullayeva).
In the competition among employees, Ph.D. Gulnara Fataliyeva and scientific researcher Melek Aliyeva took the 1st place, Associate Professor Mahir Zeynalov, Assoc. Prof. Nasimi Ahmadov and Ph.D. Intizar Gurbanova took the 2nd place, Assoc. Prof. Kamran Abdullayev, Ph.D. Ulkar Mammadova, Ph.D. Akifa Agayarova and junior scientific researcher Aynur Nabizade took the 3rd place. The winners were awarded with cash prizes (economics.org.az).
