Regional Development and Diversification Index

  This study was carried out at the MSE Institute of Economics with the aim of assessing the level of economic development and diversification in the economic regions of Azerbaijan, subordinate cities of the republic and administrative regions. The assessment was made on the basis of the Regional economic development and diversification index that developed by the authors.
  Such type of comparative studies means serious practical importance. Their results can be useful during the preparation of practical management decisions on the issues of socio-economic development of the country's regions, including when supporting the development of the economy at superior rates in individual regions, for drawing up socio-economic development programs, and for allocating additional state funds for the development of different regions.
  Although the research was conducted in the regions of Azerbaijan, the proposed approach is universal in principle and allows interregional assessments to be carried out in other countries too.