Page 19 - Azerbaijan State University of Economics

Philipp Kunz, Richard Pospíšil, Ondřej Kročil: Economic Benefits of The Sustainable Public
Procurement Law

1.6. Rationale of the Study

Economic growth is essential for the development of any nation or state. To achieve
economic growth, governments need to control their public procurement processes
to ensure that tendering processes are fair and contracts are awarded to qualified
contractors, who can flawlessly execute works, offer services, and supply goods.
Thus, the study of the relationship between law and economics is essential.
Precisely, by studying the significance of public procurement law on economic
growth, organisations and nations can determine the most efficient ways to ensure
their developments. They can learn the benefits of eliminating bigotry that result
from nepotism or the need for quick financial aim. Moreover, companies and
governments can determine the most effective ways of avoiding unlawful tendering
acts and ensuring adherence to public procurement laws. As such, this study is
essential for ensuring that economic growth is achieved in any nation or state.

1.7. Limitation of the Study

First of all, the study is mainly quantitative and to a slight extent qualitative.
Quantitative researchers, as opposed to qualitative ones, do not usually provide the
most accurate information. They are primarily based on numbers rather than the
details of the information that they provide. In this research, despite the many
sources used, they are all based on the opinion of other researchers' opinions. More
so, the data gathered is secondary as opposed to primary. Contradictory to primary
data, which is obtained first-hand through face-to-face interviews, questionnaires,
and observations, the secondary information is collected from articles, journals, and
books of other researchers. Consequently, the quality of the data is greatly reduced.
Moreover, in this study, the secondary data is solely used to answer the research
questions and confirm the hypotheses. Thus, the data used as evidence in supporting
this research's findings and conclusions are not satisfactory and need a qualitative
approach as well.

1.8. Literature Review

The public sector is very important for the economic growth and economic
development (Ozekicioglu and Bayar, 2017). Public procurement is a key instrument
for the functioning of the public sector. Public procurement is the acquisition of
resources, that is, goods and services, from outside suppliers. Due to this fact, it is
vital for organisations units including the government, companies, and households,
among others. Also, public procurement size is significant; therefore, it accounts for
a substantial amount of goods and services demanded. In this sense, public
procurement is an essential tool for developing societies and nations. Precisely,

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