Page 25 - Azerbaijan State University of Economics

Nazim O.Eminov: The problems of formation of regional innovation strategy in Azerbaijan

of the regions are not able to utilize fully their scientific opportunities. The main

reason for this phenomenon is that the products of scientific activities are not

always competitive enough. The distortion of relations between the scientific

organizations and the business brought about the larger gap between these sectors.

From this point of view the development of regional innovation strategy is quite

important.

1. The specific of formation of innovation economics in regions.

If the economy is raw material based, it brings about not only slow

development but also hampers the development of innovations. The macro-

economic strategy of Azerbaijan, which enables it to be categorized as developed

country, is based on innovative information technologies. From this point of view,

development of innovations especially in the regions is of high priority. The

practice of the most developed economies shows that the development strategy is

directed to acceleration of technical development, increase of competitiveness of

the products and welfare. We would like to note that there is no precise innovation

strategy in Azerbaijan and allocation of funds to this realm is made based on

“residue” principle. We should always remember that the level of development of

technologies identify the level of efficiency of economic forces. In its turn this

process reflects the achievements of technology progress.

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