On May 4, 2022, Baku Business University (BBU) hosted an international scientific-practical conference on "Quality assurance as a key factor in competitive economic development" dedicated to the 99th anniversary of national leader Heydar Aliyev
Director General of the Institute of Economics of ANAS, Professor Nazim Muzaffarli (Imanov) made a presentation on "Rating of economic development and diversification of the regions of Azerbaijan" that is joint research with Ph.D. in Economics, associate professor Allahyar Muradov. He noted that this study is the research of the Institute of Economics and is calculated on the basis of two sub-indices. The sub-index of static level of economic development (SLED) assesses the current state (not the dynamics) of economic development, and sub-index of the sectoral diversification (SD) assesses the sustainability of economic development.
In the study compares the level of economic development of the regions of Azerbaijan only on the basis of a static approach, it means, on the basis of indicators reflecting the actual state of the economy. In order to assess the sustainability of the economy in the regions of Azerbaijan, the level of sectoral diversification was studied, and used the approach of "equal share" on industry, agriculture, construction and services. Based on this approach, a sectoral diversification sub-index was calculated for each economic region, republican city and administrative region. The results of the study were met with great interest at the conference.
Acting Executive Director of the Institute of Economics of ANAS, Ph.D. in Economics, associate professor Allahyar Muradov and head of the department, Ph.D. in Economics, associate professor Mahir Zeynalov also attended the conference (economics.com.az).
