Pages: 67-74
Published: 30.08.2017
Abstract: The the features of historical development and modern aspects of the economy of Azerbaijan are explored in the article. The history of the development of the Azerbaijani economy, including during its period of being in the Russian Empire, as an independent Azerbaijan Democratic Republic and in the status of one of the 15 republics of the former USSR is analyzed. The main phases of development of the Azerbaijani economy, primarily the evolution of the oil industry, are considered. The development and role of the oil industry in meeting the needs of the former USSR with fuel, lubricants and gasoline is especially emphasized, especially during the Great Patriotic War to meet the needs of the advanced front. Features of the development of the economy of Azerbaijan after the Great Patriotic War - during the second half of the twentieth century are considered. The special success of the economy of the Azerbaijan SSR during the period 1970-1985 is noted. The peculiarities of the economy of independent Azerbaijan after the restoration of independence in connection with the fall of the former USSR are analyzed. The essence of the ongoing economic reforms, formation and implementation of the model of economic development of Azerbaijan over the past decades is revealed. The reasons for the instability of the Azerbaijani economy in the conditions of falling oil prices in world markets and the expansion of the negative consequences of financial crises in the world are indicated. A number of recommendations and proposals on modernization and strategic development of the national economy of the Republic of Azerbaijan in the near and long term in the context of the growth of global economic threats are generalized and given.
Key words: Azerbaijan, the historical development of the Azerbaijani economy, the evolution and formation of the Azerbaijani economy, the features of the national economy of Azerbaijan, the model of Azerbaijan's economic development, modern aspects of the development of the Azerbaijani economy, the economy of Azerbaijan in the face of growing global economic threats.
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