EVALUATION OF SUSTAINABLE DEVELOPMENT INDICATORS USING STATISTICAL AND ECONOMETRIC MODELS: AN EMPIRICAL STUDY OF AZERBAIJAN

Abstract

The article provides a comprehensive examination of the interrelationships between the economic, social, and ecological components of sustainable development, using statistical and econometric approaches in the case of Azerbaijan. The aim of the study is to quantitatively assess the relationships between these components and to identify the main factors influencing the level of sustainable development. Within this framework, a multi-variable regression model was constructed based on official statistical data and analysed using the least squares method. The results obtained show that economic growth has a positive effect on the overall level of development, but the rise in the level of inflation, increasing unemployment and the intensification of the ecological burden are the main factors that weaken this effect. The results of the model confirm the high explanatory power of the selected indicators for sustainable development and reveal that structural dependencies still exist within the economic system.
The scientific novelty of the study lies in the fact that the sustainable development indicators have been assessed not only descriptively but also within an econometric model that reveals causal relationships. This approach allows for a deeper understanding of the existing trends. From a practical perspective, the findings are significant for the formulation of public policy. In particular, measures aimed at diversifying the economy, strengthening social protection mechanisms, and expanding efforts to preserve ecological balance are justified as key priorities. Overall, the research demonstrates that sustainable development can only be achieved through a comprehensive and balanced approach.