STATE PARTICIPATION IN INDUSTRY DIVERSIFICATION OF AZERBAIJAN

The article concerns the necessity of Azerbaijan’s industry diversification initiated by the state. The complexity and the high cost of this process are proved to be the cause of the state participation. The study describes the state participation in industry diversification and deals with scientifically grounded recommendations on diversification aspects of the country’s economy. The results of the study comprise justification of state control for diversification process and definition of priority growth areas of the Republic’s non-oil sector.