Image: Bakü gece görünüşü — the Baku shoreline, facing north, with the Caspian to the right. Permissions*: see below.
1 of 2 Emin Huseynov, Aide to the First Vice-President of the Republic of Azerbaijan: After years of being under military threat, we recently tripled our rate of growth. World Bank research among Central Asian nations: There’s no clear-cut evidence that diversified exports lead to a developed economy. What’s more important: diversify exports, or diversify assets? World Bank refers to natural, produced, and intangible (human capital and institutions – i.e.., rules of the game) wealth. In Azerbaijan, we have a lot of natural wealth in hydrocarbons; we then built infrastructure — water, irrigation, bridges, roads; upgraded to a top-notch level, which greatly contributed to our produced wealth. We now need to invest more in human capital and in building more effective market institutions.
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