Economic Effectiveness and Forecasting of Scientific Activity in Azerbaijan

Abstract

In the conditions of increasing international competition, sustainable development of the economy is considered to be one of the priority areas of scientific activities in the country. Since science and high technologies are the fundamental basis of innovative development, the strengthening of scientific, technical, and innovative potential for countries is considered as the goal of economic policy. In this context, the ability to achieve achievements related to scientific activity and to implement the obtained results becomes one of the factors that ensure the competitiveness of both the economy and fields and subjects in the global competitive environment. The effectiveness of scientific activity directly depends on the funding of research and development. The comparison of costs and results is closely related to the consideration of different time intervals between financing and the achievement of commercial results. Therefore, investments related to the commercialization of science appear as investments in the future. Thus, the application of the results of scientific activity to production, being considered an important factor of production intensification, ensures the increase of labor productivity, the reduction of production costs, and the improvement of the efficiency of capital investments. These, in turn, are the main conditions for the effectiveness of the integration of science and production. In the research, the effectiveness of scientific activity, the factors affecting it, the possibilities of expanding the application of scientific activity to production, and the forecast indicators of the volume of scientific and technical works shortly are determined.