• Natural Resources for Sustainable Development in Eurasia.

Diversification problems of Azerbaijanieconomy: obstacles and solutions

03 Jan, 2019 493

Ingilab Ahmadov

Summary :

In this article Ingilab Ahmadov analyzes the conditions for economic diversification and obstacles in the way of it. He identifies that the strict monetary and credit policies, are hampering the success of economic diversification. The work emphasises that political condition are of an utmost importance in successful outcome of diversification policies. The environment in the country is enabling for diversification due to the revamped infrastructure, the drastic devaluation of the manat, the dramatic reduction of the average monthly wages as expressed in dollars, the reappearance of cheap workforce, and the presence of such a regional market as Russia. The establishment of ownership rights in the country and a favourable business environment are cornerstone for progress in economic diversification.

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