Financial mechanisms to ensure innovative developmentJournal: İqtisadi Artım və İctimai Rifah- Journal of Economic Growth and Social Welfare (Vol.2, No. 2)
Publication Date: 2021-07-31
Authors : Zeynab Giyasova;
Page : 201-213
Keywords : innovative development; fiscal mechanisms; venture capital;
The article reflects the assessment of the financial condition of innovative economic development in Azerbaijan and the improvement of financing mechanisms. Because fiscal policy as a method of financial regulation of the economy contains important economic tools such as taxation and public spending it is extremely important in the implementation of innovation policy. Investment is an important factor in economic growth and the increasing investment potential in the country has a positive effect on economic growth. On the other hand, high demand encourages companies to increase production and investment. In order to study the fiscal mechanisms of the innovative economy, the structure of expenditures on science, technology, creation, maintenance and improvement of e-government as capital expenditures in the country is studied, new approaches to increase their economic efficiency are studied and research is conducted. Clarifications have been made on new mechanisms for ensuring investment in innovative development, and the factors determining the country's innovative economic development have been comprehensively studied. A number of indicators related to innovative development in Azerbaijan using statistical and empirical methods are evaluated, and suggestions are made for the interpretation of the results.
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