Electronic Journal of Polish Agricultural Universities (EJPAU) founded by all Polish Agriculture Universities presents original papers and review articles relevant to all aspects of agricultural sciences. It is target for persons working both in science and industry,regulatory agencies or teaching in agricultural sector. Covered by IFIS Publishing (Food Science and Technology Abstracts), ELSEVIER Science - Food Science and Technology Program, CAS USA (Chemical Abstracts), CABI Publishing UK and ALPSP (Association of Learned and Professional Society Publisher - full membership). Presented in the Master List of Thomson ISI.
2017
Volume 20
Issue 4
Topic:
Economics
ELECTRONIC
JOURNAL OF
POLISH
AGRICULTURAL
UNIVERSITIES
Humbatova S. , Hajiyev N. 2017. TWO-FACTORIAL FUNCTIONAL ANALYSIS OF ECONOMIC DEVELOPMENT IN THE REGIONS OF AZERBAIJAN, EJPAU 20(4), #03.
Available Online: http://www.ejpau.media.pl/volume20/issue4/abs-03.html

TWO-FACTORIAL FUNCTIONAL ANALYSIS OF ECONOMIC DEVELOPMENT IN THE REGIONS OF AZERBAIJAN

Sugra İ. Humbatova1, Natig G-O. Hajiyev2
1 Price and Apprecation Department, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan
2 Regulation of Economy Department, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan

 

ABSTRACT

This article is about analysis of the dependence of industrial and agricultural production in the regions of Azerbaijan on two main factors: capital funds and workforce. It was mainly used the Cobb-Douglas production function and linear function in this analysis. The Cobb-Douglas production and linear functions that have economical and statistical meaning are used during analysis. In the analysis, it is decided not to take account of the main funds that indirectly used in the production and to improve the statistical database because the main funds that indirectly used in the production and the lack of statistical database create some hardships for making exact decisions and calculation.

Key words: regional development, agricultural production, industrial production, capital funds and workforce, Cobb-Douglas production function.


Sugra İ. Humbatova
Price and Apprecation Department, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan
AZ-1001
Baku
Azerbaijan
email: s.qunbatova2012@yandex.com

Natig G-O. Hajiyev
Regulation of Economy Department, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan
AZ-1001
Baku
Azerbaijan

Responses to this article, comments are invited and should be submitted within three months of the publication of the article. If accepted for publication, they will be published in the chapter headed 'Discussions' and hyperlinked to the article.