Akademik Məlumat İdarəetmə Sistemi
YAŞIL DÜNYA: SOSİAL-İQTİSADİ TRANSFORMASİYA, pp.130-136, 2024 (Conference Book)
Azerbaijan's economy needs more innovations against the background of declining oil income. Empirical studies have shown that oil and gas-rich countries lag behind resource-poor countries in economic growth and need more technological innovations for sustainable economic growth.
In this regard, the main goal of Azerbaijan's economic development strategy is to achieve sustainable economic growth and diversification of the economy through the development of the non-oil sector. For this purpose, the creation and development of strong motivational mechanisms for the expansion of the application of innovations in the economy is envisaged in the official state policy. Because the introduction of innovations can have a positive effect on economic growth, and this is one of the factors of economic growth. As already mentioned, new innovations can be improvements of existing products or new products, processes and business models based on completely new knowledge.