The Legal and Institutional Framework of State Investment Programs: Azerbaijan in Comparative Perspective
DOI:
https://doi.org/10.69760/gsrh.0250203004Keywords:
public investment governance, legal accountability, Azerbaijan, state investment program (SIP), transition economies, public administration, comparative legal analysis, institutional reform, OECD standards, fiscal transparencyAbstract
This paper explores the legal and institutional architecture of public investment governance in Azerbaijan from a comparative public administration perspective. Anchored in the 2024 Presidential Decree and the foundational 2010 regulations (E-qanun 19404), the study critically analyzes how Azerbaijan structures the planning, implementation, and monitoring of state investment programs (SIPs). Using a theoretical and doctrinal approach, the paper compares Azerbaijan’s framework with selected models from European Union member states and OECD practices, emphasizing the principles of transparency, accountability, and subsidiarity. It argues that while Azerbaijan has made substantial progress in codifying its public investment regime, key gaps remain in parliamentary oversight, stakeholder engagement, and legal mechanisms for performance evaluation. The study concludes by recommending legal and institutional reforms to better align Azerbaijan’s public investment governance with international standards and best practices, thereby enhancing its long-term fiscal sustainability and administrative integrity.
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