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The Business Environment: economic reforms in the context of institutional shortcomings

dc.contributor.authorRashad Hasanov
dc.contributor.authorDan Breban
dc.contributor.authorJafar Jafarov
dc.contributor.authorLeyla Suleymanova
dc.description.abstractThe existence of a well-functioning business environment is a key factor in the diversification of the economy, the efficient use of available resources and ensuring sustainable growth. The business environment, in its turn, should be regarded as a composite of conditions that incorporate quite complex components. If one or more of the composition components are not functioning appropriately, the result you will get is not adequate to the available capacity. The existence of contemporary institutions is the absolute requirement for a "good business environment", performing functions such as coordinating all other economic advantages, organizing appropriate arrangements, and risk management. In the 21st century, policies aimed at the development of the economy are only possible through institutional reforms. The existence and effectiveness of relevant institutions and incentive mechanisms in the process of involving global resources (investment, tested experience, integration advantages, etc.) is considered to be one of the most important advantages. It is hard to imagine the development of modern economies without these global resources. The sharp decline in oil prices since the second half of 2014 created serious difficulties for the Azerbaijani economy, which renowned for its hydrocarbon wealth. The government therefore has begun broad-based reforms in the economy. However, the growth trend in the real economy remains weak despite extensive reforms in the legal sphere and new incentive mechanisms. In other words, delays in implementation of reforms in the economy have been observed. We will try to briefly review the reasons for these delays in this article.
dc.publisherCenter for Economic and Social Development
dc.titleThe Business Environment: economic reforms in the context of institutional shortcomings
dc.subject.expertDevelopment Economics
dc.subject.expertRegional Economic Development
dc.subject.expertEconomic Impact
dc.subject.expertAsian Development Bank
dc.subject.expertEconomic Boom
dc.subject.expertRegional Economic Integration
dc.subject.expertGood Governance
dc.subject.expertGovernance Approach
dc.subject.expertMacroeconomic Analysis
dc.subject.expertMacroeconomic Framework
dc.subject.expertMacroeconomic Models
dc.subject.expertMacroeconomic Performance
dc.subject.expertMacroeconomic Planning
dc.subject.expertMacroeconomic Policies
dc.subject.expertMacroeconomic Reform
dc.subject.expertMacroeconomic Stabilization
dc.subject.expertGovernment accounting
dc.subject.expertGood Governance
dc.subject.expertGovernance Approach
dc.subject.expertGovernance Capacity
dc.subject.expertGovernance Models
dc.subject.expertGovernance Quality
dc.subject.expertPolitical Leadership
dc.subject.expertPolitical Power
dc.subject.expertInstitutional Framework
dc.subject.expertGovernment accounting
dc.subject.expertSocial planning
dc.subject.expertSocial policy
dc.subject.adbEconomic planning
dc.subject.adbEconomic structure
dc.subject.adbGrowth policy
dc.subject.adbTrade relations
dc.subject.adbTrade policy
dc.subject.adbTrade policy
dc.subject.adbEconomic development
dc.subject.adbEconomies in transition
dc.subject.adbInternational economy
dc.subject.adbBorder integration
dc.subject.adbEconomic integration
dc.subject.adbGross domestic product
dc.subject.adbTrade policy
dc.subject.adbInstitutional Framework
dc.subject.adbPublic Administration
dc.subject.adbBusiness Ethics
dc.subject.adbPolitical Leadership
dc.subject.naturalRegional economics
dc.subject.naturalEconomic forecasting
dc.subject.naturalEconomic development projects
dc.subject.naturalSuccess in business
dc.subject.naturalFree trade
dc.subject.naturalCommunication in economic development
dc.subject.naturalRestraint of trade
dc.subject.naturalInternational economic integration
dc.subject.naturalTrade blocs
dc.subject.naturalEast-West trade
dc.subject.naturalPolitical obligation
dc.subject.naturalPublic management
dc.subject.naturalGovernment accountability
dc.subject.naturalTransparency in government
dc.subject.naturalPolitical ethics
dc.subject.naturalGovernment spending policy
dc.subject.naturalGovernment services
dc.subject.naturalLocal government
dc.contributor.imprintCenter for Economic and Social Development
oar.adminregionCentral West Asia Region
oar.authorHasanov, Rashad
oar.authorBreban, Dan
oar.authorJafarov, Jafar
oar.authorSuleymanova, Leyla

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