Evaluation of the Institutional Provision of Economic Security in Azerbaijan and Directions for its Strengthening
Fizuli Kerimov
Abstract. This article evaluates the institutional provision of economic security in Azerbaijan through a comprehensive approach and identifies the main directions for its strengthening. In this framework, economic security is treated not only as macroeconomic stability, but also as the capacity of the state, the market, and regulatory institutions to function in coordination. The main purpose of the study is to analyze together the legal basis, governance mechanisms, coordination capacity, and practical outcomes of the institutions shaping economic security in the country. The article shows that centralized governance, the availability of fiscal buffers, financial stability instruments, digital public services, and strategic planning mechanisms play an important role in ensuring economic security in Azerbaijan. At the same time, an underdeveloped competitive environment, the large share of state-owned enterprises, the insufficient depth of institutional independence, the limited use of results-based evaluation mechanisms, and the weakness of market institutions act as factors that weaken the long-term foundations of economic security. The analysis demonstrates that economic security cannot be protected only through resource abundance and administrative control. Sustainable outcomes require the simultaneous provision of stable rules, professional oversight institutions, efficient management of state ownership, transparency, accountability, and the expansion of the private sector. As a result, the article justifies the strengthening of competition policy, the deepening of corporate governance in state-owned enterprises, the results-based management of state investment programs, the expansion of financial markets, and the improvement of the analytical quality of digital governance as key priorities.
Keywords: economic security, institutional provision, state regulation, competition policy, state-owned enterprises, financial stability, digital governance