ECONOMETRIC ESTIMATION OF THE INFLUENCE ON THE SUSTAINABLE ECONOMIC DEVELOPMENT OF THE AZERBAIJAN OF THE FOREIGN INVESTMENT

Abstract

Purpose: to investigate the influence of foreign investments on sustainable economic development of Azerbaijan. The main measure of this development is the volume of gross domestic national product (GDP). Discussion: the foreign investments are the main factor, which influence the sustainable development. Investments are a powerful source of updating of manufacture and economic growth of the country. Therefore the problem of the foreign investments attraction should be considered today as one of the key moments by working out and introduction of the concept of a sustainable development of Azerbaijan. Results: the econometric model for the estimation of the foreign investments influence on the gross domestic product for period 2005-2012 years is constructed. The statistical characteristics received by Eviews program show that the given model is adequate and can be used for the forecast.