Socio-economic problems of the formation of regional markets in Azerbaijan

Abstract

Purpose of the research: The main purpose of the research is to analyze the current state of socio-economic factors influencing the formation of regional markets in Azerbaijan, to assess existing inequalities in production and income indicators across regions, and to develop proposals aimed at improving the country’s regional economic policy in order to ensure sustainable development of regional markets.

Methodology: The research methodology is based on statistical analysis of the development level of production sectors, trade, and services as integral components of the regional economy; comparative assessment of per capita output and population income indicators across economic regions; as well as a systematic analysis of socio-economic factors affecting the formation of regional markets.

Practical significance: The practical significance of the research lies in the fact that stimulating the development of regional markets contributes to increased economic activity in regions, expansion of local production and entrepreneurship, growth of population income levels, and improvement of employment opportunities. At the same time, the obtained results are of practical importance in terms of reducing interregional socio-economic disparities and minimizing existing imbalances in regional economic development.

Research results: The research results include an assessment of the impact level of socio-economic factors on the formation of regional markets in Azerbaijan, identification of imbalances between regions in terms of production and income indicators, and formulation of relevant proposals aimed at improving regional economic policy to address these issues.

Originality and scientific novelty: The originality and scientific novelty of the research consist in the comprehensive study of the impact of socio-economic factors on the formation of regional markets, identification of the relationship between production potential and population income levels, as well as a scientifically grounded analysis of the market development characteristics of Azerbaijan’s regions from the perspective of formal and development-oriented regional market models.

Keywords: regional markets, region, socio-economic development, production, income, entrepreneurship, employment.