The two chapters of the book "Strategic Outlook in Business and Finance Innovation: Multidimensional Policies for Emerging Economies", published by the prestigious British publishing house Emerald, has contained scientific works of scientists from Baku Engineering University (BEU).

Thus, the chapter of the book entitled "The Positive Effects of Financial Innovation on the International Trade Volume" was written by the head of the Finance Department of BEU, PhD. in Economics Fuzuli Aliyev. In this chapter, the BEU scientist spoke about the innovations brought to the financial sector by the rapid development of technology and research in recent years. It was noted that the integration of mathematics and computer science into the field of finance created a field of multidisciplinary financial engineering, which offered investors a new complex of financial products. Moreover, financial innovations such as financial technologies, high-frequency trading, mutual investment funds, stock exchanges, hedge funds, etc were explainded in figures, as well as information on derivative financial instruments and cryptocurrencies was given to protect against risks in domestic and foreign transactions.

In the chapter “The Relationship Between Financial Innovation and Economic Growth: Evidence from Azerbaijan” writter by head of Economics Department, assoc.prof. Shahriyar Mukhtarov, and teacher of the Department Javid Aliyev,  the authors studied the relationship between financial innovation and economic development in Azerbaijan between 1992-2018. The causal relationship between the variables was investigated by the Toda-Yamamoto test within the Vector Autoregressive (VAR) model. Based on the results of the research, certain proposals were made regarding the role of financial innovations in ensuring macroeconomic stability and sustainable development in Azerbaijan and other oil-exporting countries.

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