EXPLORING THE RELATIONSHIP BETWEEN ECONOMIC CONVERGENCE AND SALARY LEVELS IN DEVELOPING COUNTRIES: A CASE STUDY OF AZERBAIJAN

Analysis of the relationship between economic convergence and wage level in general and in the case of Azerbaijan

Abstract

The purpose of this paper is to examine the relationship between wage levels and economic convergence in developing countries. Although the topic was approached from a broader perspective at the beginning of the article, more specific factors were mentioned in the continuation. Here, the economic growth in many countries of the world, the rate of salary level, changes in the level of welfare of the population and the economic convergence trends of those countries are examined. Although Azerbaijan was chosen as the main research object to analyze the issue more concretely, as mentioned above, the general aspects of the developing countries of the world are studied. This will lead to a comparison of the experience of Azerbaijan and the world in this field and, as a result, a more accurate analysis. The article talks about the factors that have a greater influence on the salary levels and economic convergences of developing countries. Analyzes are made, results are obtained and recommendations are made. This article contains useful information about economy of Azerbaijan, other countries of the world for those study this topic.