ANALYSIS OF MODERN FACTORS AND CONDITIONS OF ENSURING ECONOMIC GROWTH IN AZERBAIJAN

Abstract

The problem of economic growth in the world has been relevant for several decades. The growing interest in it is largely due to the unevenness of the development rates of different countries, the slowdown in the growth rate of industrialized countries at the end of the 20th century, and the continuous decline of poor countries from the world's leading superpowers. At the same time, a number of developing countries such as China, Malaysia, Singapore, Thailand and Korea have seen stable high growth rates of GDP at certain stages of development, which has allowed them to achieve important achievements in improving welfare with developed countries. Revealing the mechanisms that contribute to the rapid development of some countries and slow down the GDP growth of other countries has become one of the main problems of the World Economic literature of the second half of the 20th century. It was during this period that a number of theories of economic growth were developed, which are the basis for conducting numerous empirical studies. Factors and conditions affecting economic growth in Azerbaijan have always been the focus of economic scientists. In this regard, economic growth and economic development are urgent issues. In the article, the factors affecting the economic growth in Azerbaijan in recent years were analyzed, based on the analysis of the obtained results, the factors that had a positive effect on the rate of economic growth were determined.