Challenges for Sustainable Economic Development: Evidence from Azerbaijan

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  • © 2016 Center for Analysis of Economic Reforms and Communication

     

    CAERC Working Paper

    Department of Economic Analysis

     

    Challenges for Sustainable Economic Development:

    Evidence from Azerbaijan

     

    Vusal Musayev

     

    Center for Analysis of Economic Reforms and Communication (CAERC)

     

    November 2016

     

    CAERC Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in CAERC Working Papers are those of the author(s) and do not necessarily represent the views of the CAERC, its Executive and Supervisory Board, or CAERC management.

     

    Abstract

    The analysis of the observed trends in economic development motivates an extensive range of restrictions that Azerbaijan faces in making fiscally, socially, and environmentally sustainable progress. Economic progress will therefore necessitate dealing with these restrictions related to both sustainable growth as well as inclusive growth. Solutions to removing current constraints will facilitate the economy to move toward a new growth trajectory that will ultimately better enable Azerbaijan to achieve long-term sustainability and macroeconomic stability with a diversified economy.

     

    Keywords: Economic Development in Azerbaijan, Challenges for Sustainable Economic Growth

    JEL classification: F42; H62; J24

     

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