“Economic Sciences: theory and practice” is scientific, refereed, biannual journal. The Journal of “Economic Sciences: theory and practice” has been founded by Azerbaijan State University of Economics in 1994.
The Journal has been received to registration in the centre of international ISSN (International Standard Series Number, ISSN-2220-8739). Also, it has been included by the Supreme attestation Commission under the President of Azerbaijan Republic to the list of scientific publications on economic sciences.
This paper aims to study the experience of the UAE to achieve economic diversification and non-oil export growth for offering public policy recommendations for Azerbaijan based on the following structure. Firstly, it presents the case of the UAE and its success story. Then, it proposes policy recommendations for Azerbaijan. The main finding of this paper is to explain the role of holistic state policies of the UEA in economic success. Along with oil revenues, the economic success in the UAE has been achieved due to economic model chosen by the government of the UAE and public investments in the non-oil sector. It discusses if the same economic policies can bolster non-oil export growth in Azerbaijan. In conclusion, the paper summarizes the main findings.
Key words: Economic diversification, non-oil export, UAE, development, policies, growth.
JEL classification: F00, F01, F55, 038.