On December 9, 2022, held the next meeting of the Scientific Council of the Institute of Economics. In the meeting chaired by the director general of the institute, D.Sc., professor, Nazim Muzaffarli (Imanov), heard the final annual report on the planning scientific research work carried out by the Institute of Economics in 2022. Corresponding member of ANAS, professor Gorkhmaz Imanov also participated in the meeting
Presenting the final annual report, the Executive Director of the Institute, Professor Mushfiq Atakishiyev said that have conducted studies on the topic of "Directions for the realization of national priorities of socio-economic development in Azerbaijan in the medium and long term (2022-2025 years)" at the Institute of Economics, in 2022.
The Institute bases its research on the goals and objectives set by state programs, strategies and concepts. The direction of scientific research currently carried out by the Institute is determined in accordance with "Azerbaijan 2030: National Priorities for socio-economic development" approved by the President of the Republic of Azerbaijan, including “Development Program for 2020-2025 ANAS".
The institute closely cooperates with the relevant state institutions regarding the implementation of state programs approved by the President of the Republic of Azerbaijan and decisions of the Cabinet of Ministers, fulfills their orders and conducts joint research. Employees of the Institute are represented as experts in more than 10 economic working groups of government institutions.
M. Atakishiyev said that a number of important results were obtained on the basis of scientific research conducted during the year. So, under the leadership of prof. Nazim Muzaffarli’ the suggestions and recommendations were made on the selection of comparative priority areas based on the assessment of the economic potential in the post-conflict areas of Azerbaijan.
The study was conducted on the basis of the order of the Ministry of Economy. Initially, the repatriation potential was assessed, and then determined 5 main development directions and 14 priorities based on comparative advantages. Separately investigated the potential opportunities for the realization of the tasks set by the fourth industrial revolution in Karabakh. In order to realize the potential advantages, prepared specific proposals and recommendations on the implementation of the supporting mechanisms and tools of the state regulation of the economy, strengthening of public-private cooperation and presented to the relevant state institutions. The results of the research will be published in the form of a book.
The scientists of the Institute of Economics prepared 3 ratings for the economic regions of Azerbaijan, subordinate cities and administrative regions of the republic. These are evaluations on the level of socio-economic development (D.Sc., prof. R.Sultanova and the collective) and are printed in the form of a book; the book "Quality of life in Azerbaijan - 2020: Towards inclusive development" was published on the quality of life (Ph.D., Assoc.prof., P.Hasanov and M.Aghayeva); on financial self-sufficiency (N. Muzaffarli and collective) is a research commissioned by the Ministry of Finance, which will be published in a book form.
These ratings are based on composite indices proposed by the Institute itself. The results can be used during making practical management decisions on the prospective development of regions, drawing up socio-economic development programs, and allocating additional state funds for the development of regions. The methodologies are original and universal, allowing cross-regional evaluations in other countries too.
Prepared a set of proposals on the development directions of social entrepreneurship in Azerbaijan, including the improvement of its organizational and legal foundations. The research was carried out with the financial support of KOBIA. The results were published in the form of a book ("Development of social entrepreneurship in Azerbaijan") and presented to state institutions.
Developed mathematical models so that allow determining the impact of fixed capital investments on non-oil exports and the impact of capital production funds on newly created added value. Based on these models, it is possible to make a long-term forecast of added value created in industries. The results were submitted to the relevant state institutions. Also, another criterion was proposed by the Institute of Economics to determine the optimal framework of inflation. The results can be used in the formulation of monetary policy.
Prof. M. Atakishiyev who gave information about other important scientific results said that the role of economic-mathematical analysis methods in increasing the efficiency of economic policy has been studied, and mathematical models have been developed that allow forecasting macroeconomic indicators for the long term. The possibilities of applying big data, indices, correlation and have been investigated regression methods in solving the problems of macroeconomic stability and economic growth. The results have been published in several publications, including as a book in the Czech Republic (Mathematical approaches used in economic research. Czech Republic, Mendel University, Brno, 2022).
In 2022, at the institute held 2 conferences, 1 book presentation and 14 scientific seminars on various topics. A scientific-practical conference on the international theme "Economy of Culture in Azerbaijan: Development Impulses from Shusha" held in Shusha under the joint organization of the Institute of Economy of the Ministry of Culture and the Ministry of Science and Education. Held seminars related to the "Year of Shusha" at the institute, and our employees have continued researches in this direction, wrote numerous articles, and made speeches in the mass media.
In 2022, published 268 works by the employees of the Institute, including 14 monographs, 5 textbooks and scientific mass publications, 140 articles, more than 100 theses, 19 articles in journals included in international scientific bases (Web of Science, SCOPUS, etc.) published 44 works abroad. During the year, about 50 employees of the Institute participated in 15 scientific conferences. Currently, 2 scientific journals of the Institute are published - "Economic growth and public welfare" and "News of ANAS (Economics series)".
In addition to scientific research, the Institute of Economics is closely involved in the training of highly qualified scientific personnel. Currently, for the preparation of Ph.D. 43 people are studying at the Institute, 32 of them are full-time and 11 part-time. 26 people are studying in the Ph.D., 12 of them are studying for Doctor of Sciences, and 14 are studying for Doctor of Philosophy. 6 people study at the master's degree. In 2022, 12 dissertations were defended at the Dissertation Council of the ANAS Institute of Economics. 6 employees of the institute, and 4 doctoral students defended their dissertations this year.
A total of 169 people work at the institute. 118 of them are scientific workers. 68.6% of scientific workers have a scientific degree. 21 of them are Doctor of Science, and 45 have a doctor of philosophy scientific degree.
The activities of the Institute of Economics were also widely covered in the media in 2022. About 250 news items related to the direct activity of the Institute were prepared and posted on the economics.com.az website. The number of views of the site, which is monitored from 136 countries, is 840,000. The site is mostly followed from Russia, USA, European Union, Turkey, Ukraine, Germany, Great Britain, Ireland, Spain, China, Georgia, Iran, Belarus, etc. by readers in countries. 130 video materials are posted on the Institute's YouTube channel, established in 2019. These videos include the interviews of the scientists of the Institute of Economics to the well-known and leading television channels of our country, and their participation as experts in the programs. Also, during the year, more than a hundred different pieces of information were given in the country's mass media about the activities of the Institute.
At the meeting, spoke members of the Scientific Council - corresponding member of ANAS, prof. Gorkhmaz Imanov, professors - Nazim Muzaffarli, Tofig Huseynov, Tarbiz Aliyev, associate professor Emin Mammadzade, Tanriverdi Pasha and others. The annual report presented by voting and were evaluated the activity of the Institute in 2022 as satisfactory.
In the end, prof. Nazim Muzaffarli gave a speech and expressed his attitude to the annual report, the work done, the issues raised, he spoke about researches related to the construction of a new economy in Karabakh, close cooperation with the government and state institutions, joint projects, as well as the main goals and main tasks of the Institute.
The Scientific Council has also approved the plan of scientific research work to be carried out in 2023 (economics.com.az).
