Natural Resource is curse or blessing for Post-Soviet countries: Case of Russia, Azerbaijan and Kazakhstan.

The scope of natural resources in this article is mainly limited to energy and precious metals production, which covers the majority production of post-soviet countries; Russia, Azerbaijan, and Kazakhstan (RAK). Economically, a natural resource contributes much to the country’s economic growth and employment. Let’s say oil production, has its multiple positive side effects on other … Continue reading Natural Resource is curse or blessing for Post-Soviet countries: Case of Russia, Azerbaijan and Kazakhstan.

Planned economy cannot be innovative!

The well-organized economic system and its continuous development are very important for economic growth and stability of the country. The importance of innovation is inevitable and significantly crucial for sustainable economic development. Today’s giant high and medium-tech companies, pharmaceuticals and industries achieving remarkable market shares primarily through their research and development (R&D) activities, namely innovation. … Continue reading Planned economy cannot be innovative!

Quality or Quantity of Economic Policies: What is the priority for the government?

The main macroeconomic goal of economic policies is Economic Growth, which is the growth of total production in an economy. In other words, economists measure economic growth by the change in Gross Domestic Product (GDP), which is the change in the sum of the total consumption, private investments, government spending and the difference between exports … Continue reading Quality or Quantity of Economic Policies: What is the priority for the government?