At the Institute of Economics of the Ministry of Science and Education held a meeting with Advisor to the Prime Minister of the Republic of Azerbaijan, former Chairman of the Central Bank of the Republic of Azerbaijan, Doctor of Economic Sciences Elman Rustamov
The event was attended by the directory of Institute, and mainly young researchers and doctoral students.
The event was opened by the Director General of the Institute of Economics, Professor Nazim Muzaffarli, who introduced the guest. Then Elman Rustamov spoke on "Transitional Economy: Theoretical-Empirical Perspective". E. Rustamov, gave information about his interest in science and the research he conducted, spoke about the reasons for the collapse of the former USSR, the shortcomings of the socialist economy and the economic reasons that held it back, the socio-economic crisis of the 1990s, shocks in the economy, and the main characteristics and problems of the transition period.
He evaluated these issues based on classical economic theories. He shared his views on state regulation of the economy, the role of the state in the economy, and ensuring macroeconomic stability in the country. He noted that independent Azerbaijan, which solved the socio-economic problems of the transition period, has reached a modern level of development as a result of successful political, legal, and economic reforms.
Then the questions were answered. Widely discussed issues such as the main factors affecting economic growth, macroeconomic stability, inflation, the exchange rate of the national currency, the stability of the banking sector, the functions of the Central Bank, financial policy and economic activity, interest, credit and monetary policy, the limits of state regulation of the economy, liberalization, and etc (economics.org.az).
