ECONOMIC AND FINANCIAL SECURITY OF AZERBAIJAN IN THE CONTEXT OF INSTITUTIONAL CONVERGATIONS

The article analyzes the basic principles of the national, economic and financial security of the Republic of Azerbaijan. The basic principles of ensuring economic security, national interests of Azerbaijan are determined. The focus is on major threats in the economic and financial area. It is established that these threats also include the criminalization of economic relations, the growth of organized crime, the increase in the scale of terrorism, the intensification of interethnic and the complication of international economic relations. The measures used in the modern development of the country to ensure economic and financial security are singled out. The results of Azerbaijani economic reforms are summed up. It has been established that economic and financial security in the conditions of development of a market economy in Azerbaijan should be based on the formation of effective institutional support and environment. It is more important to focus on anticipating and eliminating the dangers of institutional transformation, as well as creating conditions for the effective functioning of economic entities. The stage of development of Azerbaijan in the Global Competitiveness Index is illustrated. Proposals are being made to reduce the share of basic conditions, in particular institutional ones, and move on to increase the role of factors of efficiency and innovation in order to ensure the country's economic and financial security.