Fostering Entrepreneurship in Azerbaijan
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Washington, DC: World Bank
Resumen
Descripción
A dynamic and vibrant private sector is
crucial to economic growth, with firms making new
investments, creating jobs, improving productivity, and
promoting growth. Entrepreneurial activity is pivotal to the
continued dynamism of the private sector, as the generation
of new businesses fosters competition and economic growth.
This is particularly relevant for Azerbaijan, whose
government faces a central challenge to create conditions
that will facilitate growth in nonoil tradable sectors. The
core objectives of Azerbaijan's development strategy
are to diversify the economy away from the oil sector and
sustain high employment and growth. Encouraging high-growth
entrepreneurship can help Azerbaijan achieve these goals as
it moves toward new opportunities in value added and
tradable sectors. This study shows that high-growth
entrepreneurialism is low in Azerbaijan and that innovative
activity among firms is very low. Several factors hinder
business growth and entrepreneurship: lack of competition,
especially among smaller firms; financial systems that are
not conducive to business development. Companies cite high
interest rates and risk-averse lending policies as
substantial hindrances to expansion. In addition, risk
capital is in short supply; and lack of industry-relevant
skills. The government could play an important role by
removing bottlenecks that impede entrepreneurialism in the
general business environment as well as by designing new
financial policy instruments that foster entrepreneurship
and innovation. In doing so, the government needs to
exercise care that the design and management of these
instruments prevent capture or corruption and promote
efficiency. Lack of competition is an issue in Azerbaijan,
particularly for Small and Medium Enterprises (SMEs), which
face uneven treatment within the enterprise sector.
Palabras clave
ACCESS TO FINANCE, ACCESS TO INFORMATION, ACCOUNTING, ADOPTION OF TECHNOLOGIES, ADVERTISING, AUTOMOBILE, BANKING SECTOR, BANKRUPTCY, BANKRUPTCY LAWS, BANKRUPTCY LEGISLATION, BANKS, BORROWER, BRANCHES, BUSINESS DEVELOPMENT, BUSINESS DEVELOPMENT SERVICES, BUSINESS ENTERPRISE, BUSINESS ENTRY, BUSINESS ENVIRONMENT, BUSINESS MANAGERS, BUSINESS MODEL, BUSINESS MODELS, BUSINESS OPPORTUNITIES, BUSINESS OWNERS, BUSINESS OWNERSHIP, BUSINESS PARTNERS, BUSINESS REGISTRATION, BUSINESS RELATIONS, BUSINESSES, BUYER, BUYERS, CAPABILITIES, CAPABILITY, CAPITAL GOODS, CAPITAL INVESTMENTS, CASH FLOW, CC, CHEMICAL INDUSTRY, COMMODITIES, COMMODITY, COMPANY, COMPETITION LAW, COMPETITIVE ADVANTAGE, COMPETITIVE ADVANTAGES, COMPETITIVENESS, COMPETITORS, CONCEPTUAL FRAMEWORK, COPYRIGHT, CORPORATION, CORRUPTION, CUSTOMER BASE, CUSTOMS, DATA COVERAGE, DIVERSIFICATION, DOMAINS, E-MAIL, E-SERVICES, ECONOMIC ACTIVITY, ECONOMIC ANALYSIS, ECONOMIC CONDITIONS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INCENTIVES, ECONOMICS, EDUCATION LEVEL, EDUCATION LEVELS, EMERGING MARKETS, EMPIRICAL ANALYSIS, EMPIRICAL EVIDENCE, EMPLOYMENT GROWTH, ENABLING ENVIRONMENT, ENTERPRISE RESOURCE PLANNING, ENTERPRISE SECTOR, ENTERPRISE SURVEY, ENTERPRISE SURVEYS, ENTREPRENEUR, ENTREPRENEURIAL ACTIVITY, ENTREPRENEURIALISM, ENTREPRENEURS, ENTREPRENEURSHIP, ENTREPRENEURSHIP DEVELOPMENT, ENVIRONMENTAL, ENVIRONMENTAL PROBLEMS, ENVIRONMENTAL REGULATIONS, EQUIPMENT, EQUITY INVESTMENTS, EXPANSION, EXPENDITURES, EXPORT MARKETS, FINANCIAL INSTRUMENTS, FINANCIAL MARKETS, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FIRM SIZE, FIRM SIZES, FIRMS, FISHING, FOREIGN DIRECT INVESTMENT, FORESTRY, FRONT OFFICE, GENDER, GLOBAL MARKET, GLOBAL MARKETS, GLOBAL STANDARDS, GLOBALIZATION, GOVERNMENT POLICIES, HIGH INTEREST RATES, HUMAN CAPITAL, HUMAN RESOURCE, HUMAN RESOURCE MANAGEMENT, IMAGE, INDIVIDUAL ENTREPRENEURSHIP, INDUSTRIAL PRODUCTION, INFORMATION GAPS, INFORMATION TECHNOLOGY, INITIAL INVESTMENT, INNOVATION, INNOVATIONS, INSPECTION, INSPECTIONS, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL BEST PRACTICE, INTERNATIONAL BEST PRACTICES, INTERNATIONAL FINANCE, INTERNATIONAL MARKET, INTERNATIONAL MARKETS, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, JOB CREATION, KNOWLEDGE MANAGEMENT, LABOR FORCE, LABOR PRODUCTIVITY, LAWS, LEGAL ASSISTANCE, LEGAL FRAMEWORK, LEGISLATION, LEVEL PLAYING FIELD, LICENSE, LICENSES, LICENSING, LOAN, LOCAL ENTREPRENEURS, LOCAL INDUSTRY, MANAGEMENT SYSTEMS, MANUFACTURING, MARKET DEMAND, MARKET RESEARCH, MARKET SEGMENT, MARKET VALUE, MARKETING, MATCHING GRANTS, MEDIUM ENTERPRISE, MEDIUM ENTERPRISES, METALS, MULTINATIONAL, NATURAL RESOURCE, NATURAL RESOURCES, NETWORKS, NEW BUSINESS, NEW BUSINESSES, NEW ENTRANTS, NEW MARKET, NEW MARKETS, NEW TECHNOLOGIES, NICHE MARKET, OIL, OIL SECTOR, ONE-STOP SHOP, OUTDATED TECHNOLOGY, PATENTS, PERFORMANCES, PERSONAL SAVINGS, PHOTOS, POLICY INSTRUMENTS, POLICY MAKERS, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR FIRMS, PROCUREMENT, PRODUCT INNOVATION, PRODUCTION TECHNOLOGY, PRODUCTIVITY GROWTH, PROPERTY RIGHTS, PUBLIC POLICY, PUBLIC SERVICES, QUALITY STANDARDS, QUERIES, R&D, REGISTRIES, REGISTRY, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REGULATORY REQUIREMENTS, RESOURCE MANAGEMENT, RESULT, RESULTS, RETAIL TRADE, RETAINED EARNINGS, RISK TAKING, SALES GROWTH, SCIENTIFIC RESEARCH, SECURITIES, SEES, SHOP, SITES, SMALL BUSINESS, SMALL FIRMS, SME, SME SECTOR, START-UP, STORE, SUPPLIER, SUPPLIERS, SUPPLY CHAIN, TAX RATES, TAXATION, TECHNOLOGICAL CHANGE, TECHNOLOGICAL PROGRESS, TECHNOLOGY DIFFUSION, TECHNOLOGY SPECIALISTS, TECHNOLOGY TRANSFER, TELEPHONE, TIME PERIODS, TRADE FLOWS, TRADE STRUCTURE, TRANSITION ECONOMIES, TRANSLATION, TRANSPORT, UNEMPLOYMENT, UNEMPLOYMENT RATES, UNFAIR COMPETITION, USERS, USES, VENTURE CAPITAL