Page 105 - Azerbaijan State University of Economics

Orkhan Dadashov: The Effect of Foreign Direct Investment on Azerbaijan’s Non-Oil GDP

Third, political stability should be maintained and improved to instill confidence in
investors and ensure the long-term sustainability of FDI inflows. Finally, efforts
should be made to attract investment to a wider range of non-oil sectors, including
agriculture and tourism, in order to further diversify the economy and reduce its
dependence on the oil sector.

REFERENCES
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Azer Mehtiyev. (2018) Foreign Direct Investment in Azerbaijan’s Economy: Current
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CESD Research Group. (2022) FDI in Azerbaijan in 2021: Developments and
Challenges.

Cristina Jude. (2015) Does FDI Crowd out Domestic Investment in Transition
Countries?

Dunning, J. H. and Lundan, S. M. (2008) Theories of Foreign Direct Investment.

Hatice Erkekoglu and Zerrin Kilicarslan. (2016) Do Political Risks Affect the Foreign
Direct Investment Inflows to Host Countries?

Jonathan Michie. (2001) The Impact of Foreign Direct Investment on Human Capital
Enhancement in Developing Countries.

Law of the Azerbaijan Republic About Protection of Foreign Investments. (1992).

Marco Fugazza and Claudia Trentini. (2014) Empirical Insights on Market Access
and Foreign Direct Investment.

OECD, Paris (2002) Foreign Direct Investment for Development: Maximising
Benefits, Minimising Costs.

Padma Mallampally and Karl P. Sauvant. (1999) Foreign Direct Investment in
Developing Countries.

Prakash Loungani and Assaf Razin. (2001) “How Beneficial Is Foreign Direct
Investment for Developing Countries?”

The Tax Code of the Republic of Azerbaijan. (2000).

Zdenek Drabek. (2002) The Impact of Transparency on Foreign Direct Investment.

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