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Information & communication technologies (ICT) and economic development of the Azerbaijan Republic

Author

Listed:
  • Shahin Guseynov
  • Ravshan Abdullaev
  • Teymur Mehdiyev
  • Anastasia Edelkina

Abstract

Nowadays, the Republic of Azerbaijan is one of the most developed countries in the Caucasus region. The country’s development is associated with hydrocarbon production; but in recent years, the country’s authorities have taken a course towards the IT sector development. This is an extremely interesting phenomenon, especially considering the low base's effect and the high growth rate of the main indicators which characterize a digital society. Within the article, the authors identify the relationship between the indicators of the digital society development and IT and the growth rate of the country’s economy and then the authors characterize the trends which are characteristic for Azerbaijan’s IT sector. The major challenge of the article is the preparation of the statistics for research, as they are scarce and segmented. There are two main elements of the research novelty: first, the methodology proposed by the authors for assessing the investments' effectiveness in IT by comparing them with the ITU index and, second, the identifying the shortcomings of the IT development system with the use of the digitalization efficiency analysis (from the below). The major contribution of the article is the development of the econometric methods for the estimation of the ICT investments’ effectiveness on the example of the Azerbaijan economy and the proof of the high importance of the sphere for the future of the country economy. Cite this paper: Guseynov, Shahin; Abdullaev, Ravshan; Mehdiyev, Teymur; Edelkina, Anastasia. 2021. "Information & Communication Technologies (ICT) and Economic Development of The Azerbaijan Republic" Journal of World Economy: Transformations & Transitions (JOWETT) 1(01):03. DOI: https://doi.org/10.52459/jowett3110103

Suggested Citation

  • Shahin Guseynov & Ravshan Abdullaev & Teymur Mehdiyev & Anastasia Edelkina, 2021. "Information & communication technologies (ICT) and economic development of the Azerbaijan Republic," Journal of World Economy: Transformations & Transitions, ERUDITUS, vol. 1(01).
    • Handle: RePEc:aow:jowett:v:1:y:2021:i:01:id:3
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    Citations

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    Cited by:

    1. Niftiyev, Ibrahim, 2023. "A Comparative Analysis of Information Communication Technologies Development: A Study of Azerbaijan and Balkan Countries," EconStor Conference Papers 277817, ZBW - Leibniz Information Centre for Economics.
    2. Doyar, Bayram Veli & Rzali, Shamsi & Dikkaya, Mehmet, 2023. "Development of the ICT sector and the determinants of Internet use in the Southern Caucasus," Telecommunications Policy, Elsevier, vol. 47(1).

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