THE IMPACT OF GLOBALIZATION ON THE ECONOMIC DEVELOPMENT OF AZERBAIJAN
Journal Title: Проблеми системного підходу в економіці - Year 2018, Vol 6, Issue 68
Abstract
The globalization of the world economy is an objective development trend. One of the main threats of globalization is caused by the fact that its benefits will be unevenly distributed. International cooperation is turning into a kind of pressure on weaker states from the main actors of international relations. It is possible to assess the country's place in the processes of economic globalization using the following indicators: KOF globalization index, Doing Business rating, global competitiveness index, index of economic freedom. However, it should be noted that the basis of any rating is its methodology, which does not always allow reflecting the real situation in the country. The economy of Azerbaijan through the implementation of large-scale oil and gas, transport and communication projects is already included in the globalization process and is the part of an integrated system. However, this inclusion applies primarily to the primary industries. At the same time, the country faces a difficult task – building a new economy, an economy based on knowledge. Over the past year, Azerbaijan has dropped five places in the globalization ranking and is ranked 90th among 191 countries. The increase in the value of the globalization index in comparison with previous years was largely made possible by significant progress in the issues of information flows and cultural cooperation. Today, Azerbaijan is not an influential subject of globalization and in this aspect belongs to peripheral states. According to the Doing Business rating, Azerbaijan ranks 65 out of 190 countries. Over the past year, Azerbaijan has fallen by an average of 3 steps, on almost all indicators, except for the “taxation” and “international trade” items. In 2017, the Index of economic freedom of Azerbaijan was 63.6%, which is significantly more than in 2016. This value is constantly growing, so it can make a conclusion about the positive development of the economy. The main task is to accelerate the diversification of the economy, preserve the high rates of development, increase competitiveness and expand export opportunities.
Authors and Affiliations
Ihor Britchenko, Elvyn Gahramanov
Keywords
Related Articles
- EP ID EP512188
- DOI 10.32782/2520-2200/2018-6-3
- Views 186
- Downloads 0
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