Regional Development Policies of Korea and Policy Suggestions for Azerbaijan

Abstract

An oil-rich country, Azerbaijan has made great progress due to its substantial oil profits. However, like Korea, it also faces the problem of urban-rural disparity and is applying numerous regional policies to tackle the issue. Korea’s “learning by doing” regional development experience provides valuable lessons for Azerbaijan in terms of not repeating the same mistakes. The aim of this paper is to shed light on the paradigm shift in the regional development of Korea and Azerbaijan, and to draw some policy options for Azerbaijan to upgrade its regional development strategies.