Student Stories: Exploring Sovereign Wealth Funds and the Architecture of Baku

Abdulluh

Abdullah Helal is a second-year student at Harvard Kennedy School. As part of the Growth Lab’s 2024 Summer Internship Program, he contributed to the project in Azerbaijan. The project focuses on advancing research and evidence-based policy development to address the challenges of economic diversification and job creation in a country transitioning from oil dependency.

Why did you apply to be a Growth Lab intern?
I applied for the Growth Lab internship because I wanted to gain firsthand experience working in an applied research think-tank that tackles the critical economic challenges facing countries today. The Growth Lab’s rigorous approach to economic analysis, which goes beyond traditional management consulting, deeply resonated with me. I valued the opportunity to contribute to impactful research while honing my skills in a setting that prioritizes evidence-based solutions.

What did you work on this summer?
This summer, I conducted a comparative analysis of sovereign wealth funds and their role in economic development, with a particular focus on the State Oil Fund of the Republic of Azerbaijan (SOFAZ). My research evaluated how SOFAZ and other sovereign wealth funds allocate their assets to balance economic development goals with their savings and stabilization mandates.

In what ways were you challenged?
I was challenged to move beyond merely descriptive research to a more analytical approach. My supervisor (shout-out to Felicia Belostecinic) set high expectations for not just the depth of analysis but also for how it was framed within a coherent and compelling narrative. The research needed to be both rigorous and practically applicable, contributing meaningfully to the overall project and addressing real economic challenges. I appreciated this push, as it helped me grow and ensured that my work was impactful.

What was your most exciting experience?
My most exciting experience was visiting Baku and immersing myself in its rich beauty, culture, and cuisine. As I roamed the city, I spent considerable time learning about its political and economic history, feeling as though I was truly discovering a new corner of the world. The city’s architecture was a visual delight, ranging from the UNESCO World Heritage Site of the Old City of Baku to the futuristic Zaha Hadid–designed Heydar Aliyev Center.

What advice would you give future Growth Lab interns?
My advice to future Growth Lab interns is to be proactive. The experience is largely self-guided, but you’ll have all the support you need from the Growth Lab team. The more prepared you are with a clear research topic, the more effectively you’ll be able to use your time during the internship.

What’s next for you?
I’m returning to the Kennedy School to begin my second year in the MPA/ID program. I’ll be focusing on my Second Year Policy Analysis (SYPA) paper, and I believe my experience at the Growth Lab has given me a solid understanding of the research process, which will be invaluable as I work closely with my academic advisor.

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