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ECONOMIC NATURE OF DIGITAL TRANSFORMATION IN THE ENERGY SECTOR AND EVALUATION METHODS
Jahongir Mahmudov

The article examines the economic essence of digital transformation in the energy sector and analyzes methods for assessing its economic efficiency. The study substantiates the impact of digital technologies on energy companies, including cost reduction, minimization of energy losses, improvement of production efficiency, and enhancement of investment attractiveness. The concepts of digitization, digitalization, and digital transformation are compared, and their economic content is revealed. The main evaluation methods of digital transformation projects are analyzed, including the KPI system, scenario analysis, cost–benefit analysis, investment appraisal tools (NPV, IRR, payback period), and the integrated efficiency assessment model.

12/09/2025
  • PDF (Uzbek)
418-422 115 85
ANALYSIS OF FACTORS INFLUENCING THE INVESTMENT ATTRACTIVENESS OF THE REGIONS OF THE REPUBLIC OF UZBEKISTAN
Abdurashid Kadirov, Jasur Ismatullaev

The analysis of factors influencing the investment attractiveness of the regions of the Republic of Uzbekistan includes the study of economic, social, and infrastructure indicators. Among the key factors are the availability of developed infrastructure, access to resources, government support, and the level of urbanization. The development of special economic zones (SEZ) and the improvement of the business climate also play an important role in enhancing the regions' attractiveness for investors. The study helps identify the strengths and weaknesses of the regions, which contributes to the development of effective strategies for attracting investments and stimulating economic growth in Uzbekistan.

08/29/2024
  • PDF (Uzbek)
251-258 138 67
ECONOMIC VIEWS AND ECONOMIC GROWTH
Nurislam Tukhliev

The article provides a profound analysis of scientific schools, various theoretical perspectives on economic development, and their impact on economic growth. In particular, within the framework of classical, neoclassical, and modern endogenous growth theories, the sources of economic growth, capital accumulation, labor productivity, innovation, and the role of human capital development are substantiated. At the same time, the main factors ensuring economic growth in the conditions of Uzbekistan are analyzed: increasing the level of industrialization, improving the investment climate, expanding export potential, developing the digital economy, and supporting small business and private entrepreneurship. The study develops forecast indicators for 2026–2030 through macroeconomic models used to assess economic growth, including a model of production functions and factors influencing GDP dynamics. Additionally, the goals and objectives defined within the framework of the “Uzbekistan – 2030” strategy improving public welfare, ensuring sustainable economic growth, increasing the share of high-value-added products, and ensuring the balanced development of regions have been scientifically substantiated

05/23/2026
  • PDF (Uzbek)
237-245 101 60
ANALYSIS OF THE ECONOMIC ADVANTAGE OF USING NUCLEAR POWER PLANTS AND THE STATE OF THEIR CONTROL
Mashal Saidov

This scientific article provides a comprehensive analysis of the economic advantages of using nuclear power plants and the state of their control. The study studied the long-term investment nature of nuclear energy, the structure of capital costs, the effectiveness of exploitation and the impact of the load factor on economic results. Also, the impact of safety and control systems on economic stability in nuclear power plants, the importance of international standards and national regulatory mechanisms are highlighted. Scientific and practical proposals have been developed that the economic efficiency of Atomic Energy should be assessed not only in terms of cost, but also in terms of life cycle costs, safety factors and energy safety

03/20/2026
  • PDF (Uzbek)
3-12 121 88
ECONOMETRIC ANALYSIS OF THE IMPACT OF PUBLIC HEALTHCARE EXPENDITURES ON SUSTAINABLE ECONOMIC GROWTH
Dostonbek Samandarov

This study assesses the relationship between healthcare expenditures and sustainable economic growth using econometric analysis. The analysis is conducted using data from 44 countries and applies econometric models (OLS, Fixed Effects, IV (2SLS), GMM). According to the results of the Fixed Effects model, healthcare expenditures have a positive effect on economic growth. However, the results obtained using the IV model are close to those obtained by the OLS method, while the GMM model, which accounts for endogeneity, shows that healthcare expenditures may slow down economic growth. At the same time, the Sargan-Hansen test results indicate that the instrumental variables used are not fully valid. It is concluded that countries may stimulate economic growth by optimizing the volume and efficiency of healthcare expenditures.

07/08/2025
  • PDF (Uzbek)
959-968 152 77
CREATIVE, INNOVATIVE AND TRADITIONAL ECONOMY: A COMPARATIVE ANALYSIS OF SOCIO-ECONOMIC RELATIONS
Oybek Dusmukhamedov

The article presents a comparative analysis of traditional, innovative, and creative economic relations. It elaborates the value-creation model in the creative economy, which is based on creativity, intellectual property, and digital platforms. The study highlights the significance of scientific and technological innovations within the innovative economic model and characterizes the reliance of the traditional economy on material resources. The findings indicate that the integrated and harmonious development of these economic models contributes to increasing the efficiency of national economic growth

01/13/2026
  • PDF (Uzbek)
18-23 141 89
ECONOMIC GROWTH OF UZBEKISTAN: DYNAMICS, FACTORS AND PROBLEMS
Ravshan Kalandarov

In this article, on the basis of the analysis of the economic growth dynamics of Uzbekistan and national economic sectors, factors that accelerate economic growth and slow it down are distinguished. Also, scientific and practical proposals aimed at ensuring the sustainable growth of the national economy have been developed.

11/21/2024
  • PDF (Uzbek)
286-292 148 84
DEVELOPMENT OF THE MANAGEMENT ACCOUNTING SYSTEM BASED ON MODERN ANALYTICAL METHODS TO IMPROVE ENTERPRISE PERFORMANCE
Olim Khudoynazarov

This article examines the theoretical and practical aspects of developing a management accounting system based on modern analytical methods in order to improve enterprise performance. The necessity of transforming management accounting from a traditional accounting system into a tool for analytical support of managerial decision-making is substantiated. The study employs general scientific and economic-statistical methods, including analysis, synthesis, comparative analysis, and econometric modeling. A multiple regression model is proposed to assess the impact of the level of development of the management accounting system, the use of analytical methods, and the degree of digitalization of accounting processes on the integral indicator of enterprise performance. The research results demonstrate a stable positive relationship between the studied factors and performance, with modern analytical tools (KPI, factor analysis, and marginal analysis) having the greatest impact. Based on the findings, practical recommendations for improving the management accounting system have been developed, including the implementation of KPI systems, the development of analytical tools, and the integration of digital technologies. The application of the proposed approaches contributes to improving the quality of managerial decisions, optimizing costs, and ensuring sustainable enterprise development

05/06/2026
  • PDF (Russian)
543-552 83 46
ANALYSIS OF FACTORS AFFECTING THE DEVELOPMENT OF SMALL BUSINESS AND ENTREPRENEURSHIP IN KASHKADARYA REGION
Laziz Khudoyorov

This article systematically analyzes the factors affecting the development of small business and entrepreneurship in the Kashkadarya region. The purpose of the study is to determine the role of the small business sector in economic growth in the region, its contribution to industry, agriculture, construction, services and foreign trade indicators. Statistical analysis, comparative and trend analysis, as well as a review of scientific literature and complex processing of practical data were used as research methodologies. The results showed that small business plays an important role in the stability of the regional economy, but there is a need to further strengthen the investment environment, infrastructure and innovative development factors. At the end of the article, scientifically based conclusions and practical proposals were developed to support small business and entrepreneurship in the Kashkadarya region.

10/05/2025
  • PDF (Uzbek)
312-318 174 90
THE ECONOMIC SIGNIFICANCE OF STATISTICAL ANALYSIS IN ASSESSING THE EFFICIENCY OF THE LIVESTOCK SECTOR
Jasur Abdullayev

This article studies the role and importance of statistical analysis in assessing the efficiency of the livestock sector based on economic approaches. The analysis uses dynamic series, variational indicators, correlation-regression models and regional comparison methods to study the factors determining the volume of production, productivity level and efficiency of resource use. The results of the study show that the statistical approach plays an important role in accurately assessing the real situation in livestock farming, identifying internal reserves and strengthening the economic justification of management decisions

12/31/2025
  • PDF (Uzbek)
735-739 117 77
ASSESSMENT OF THE STATE OF REGIONAL ECONOMIC DEVELOPMENT: ANALYSIS AND PRIORITY DIRECTIONS
Saodat Toshaliyeva

This article presents methods for assessing the state of regional economic development and outlines priority directions. The state of economic development in the regions of Uzbekistan is analyzed using dynamic and trend analysis, cluster analysis, SWOT analysis, and composite index methods, and is evaluated through comparative grouping. Furthermore, promising strategies for the further development of regions and key directions for their effective implementation are proposed. Authorial approaches to assessing the development status of regional economies have also been developed.

05/29/2025
  • PDF (Uzbek)
118-125 386 125
PROSPECTS FOR THE DEVELOPMENT OF A REGIONAL ECONOMIC MECHANISM FOR SUPPORTING SMALL BUSINESSES
Rustam Omanov , Sardor Rahimov

This article examines the current state and strategic directions for changing the economic mechanism for supporting small businesses at the meso-level using regional economic theory and institutional analysis. Using empirical statistical data for 2022–2025 in the Kashkadarya region and the Republic of Uzbekistan, an in-depth comparative analysis of the human resource potential of the sector and its share in the formation of gross regional product and gross domestic product is carried out. The macroeconomic anomaly of the local economic system is based on: a very high predominance of small businesses in the GRP structure up to 70.6% and variable indicators. Using econometric tools to assess time trends, the author identifies the main institutional limitations of the large-scale support model and develops a comprehensive, scientifically sound mechanism for qualitative modernization of the macroeconomic regulatory infrastructure aimed at diversifying the region's financial and production ties

06/30/2026
  • PDF (Uzbek)
841-846 48 37
THE CAUSAL RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN TURKEY: A TODA–YAMAMOTO ANALYSIS
Ulvi UZUN Yilmaz

This study investigates the causal impact of foreign direct investment (FDI) on economic growth in Turkey using annual time series data spanning the period 1980–2020. Economic growth is proxied by real per capita gross domestic product (GDP). The dataset was sourced from internationally reputable institutions such as the World Bank and TurkStat, and all variables were log-transformed to ensure suitability for statistical analysis. Due to the presence of variables with different orders of integration, the Toda–Yamamoto causality approach—robust to variables with mixed integration orders—was employed. The stationarity of the series was tested using the Augmented Dickey-Fuller and Phillips-Perron tests, while the optimal lag length was determined based on information criteria. Diagnostic tests for autocorrelation, heteroskedasticity, and structural stability were conducted to ensure model adequacy. The empirical findings reveal a statistically significant unidirectional causality running from FDI to economic growth at the 1% significance level, with no evidence of reverse causality. These results indicate that FDI functions not only as a source of external capital, but also as a strategic driver of growth by enhancing productivity, facilitating knowledge and technology transfer, and driving structural transformation. By incorporating a long-term dataset and accounting for the macroeconomic structure, this study offers a methodologically robust and contextually grounded contribution to the literature on the FDI-growth nexus in developing economies

02/13/2026
  • PDF
435-449 135 101
ECONOMIC ANALYSIS OF THE DEVELOPMENT OF PRODUCTION IN INDUSTRIAL ENTERPRISES IN THE REGIONS
Azamat Eshmurodov

The article theoretically highlights the fact that increasing the production capacity of industrial enterprises in the regions and introducing new infrastructures is one of the current topical issues, the classification of results achieved through the use of new innovations in the industrial system, the structure of economic-mathematical modeling, the structure of algorithmic technologies used in the implementation of economic-mathematical modeling, economic-statistical methods and analysis tools, the organization of a mechanism for using mathematical modeling and optimization, and the requirements for scientific substantiation of new decision-making sources in industrial development, and provides conclusions and proposals in this regard.

10/21/2025
  • PDF (Uzbek)
564-571 115 94
FACTORS INFLUENCING THE EFFICIENCY OF MANAGEMENT OF FREE ECONOMIC ZONES
Davron Tokhtamurodov

This scientific study provides an in-depth analysis of the factors influencing the management efficiency of free economic zones (FEZs) in the Republic of Uzbekistan, assessing their contribution to socio-economic development using mathematical modeling. Using the Jizzakh Free Economic Zone as a case study, the research identifies key factors affecting production volume from 2015 to 2024 — namely, foreign investment and employment levels. The study employs the Cobb-Douglas production function to construct a classical linear regression model, along with an autoregressive (AR) model, correlation-regression analysis, and evaluation through Fisher’s criterion, Student’s t-test, and the Durbin-Watson statistic.

07/24/2025
  • PDF (Uzbek)
122-131 178 106
ANALYSIS AND ASSESSMENT OF THE ECONOMIC POTENTIAL OF THE ENTERPRISE
Tulkin Khakimov

This article examines the methods of analyzing and evaluating the economic potential of an enterprise and the factors that enhance its efficiency. The main indicators of economic potential and their importance in ensuring the competitiveness of the enterprise are analyzed. The article presents evaluation methods based on financial and economic indicators and discusses their practical application.

07/04/2025
  • PDF (Uzbek)
890-899 272 92
WAYS TO ENSURE COMPETITIVENESS AND ECONOMIC SECURITY OF ENTERPRISES IN MARKET CONDITIONS
Akbarkhan Toxirov

This article examines the importance of financial indicators and their analysis in ensuring the economic security of enterprises. Financial indicators explain how the company's financial stability, liquidity, profitability, and debt status affect economic security. Also, the possibility of assessing the level of financial security of enterprises is considered through an in-depth analysis of financial indicators and their calculation methods. The article highlights modern approaches and methods of analysis to ensure economic security.

11/21/2024
  • PDF (Uzbek)
188-194 168 120
ANALYSIS OF SOCIO-ECONOMIC INDICATORS IN RAILWAY TRANSPORT ENTERPRISES AND WAYS OF THEIR OPTIMIZATION
Zarnigor Bobojonova

This article examines the analysis of socio-economic indicators of railway transport enterprises. The study explores the relationship between economic efficiency, labor productivity, social protection of employees, and the quality of transport services. Scientific and practical recommendations have been developed for the sustainable development and improvement of the economic performance of enterprises

06/10/2026
  • PDF (Uzbek)
459-467 80 42
THE IMPACT OF AGRICULTURAL INVESTMENTS ON ECONOMIC GROWTH IN UZBEKISTAN: AN ANALYSIS BASED ON THE ARDL MODEL
Sirojiddin Yangiboyev

The main objective of this study is to evaluate the impact of investments directed to the agricultural sector on economic growth in Uzbekistan. The research employs the Autoregressive Distributed Lag (ARDL) model using statistical data collected for the period 2000- 2024. The results of the analysis indicate that investments in the agricultural sector have a positive and statistically significant effect on economic growth. In addition, agricultural exports and labor resources are also identified as important factors influencing economic growth. The findings suggest that encouraging investment in the agricultural sector is essential for ensuring sustainable economic development

04/02/2026
  • PDF (Uzbek)
147-157 97 65
CAUSAL RELATIONSHIP BETWEEN EXPORTS, IMPORTS AND ECONOMIC GROWTH: TIME SERIES STUDY FOR REPUBLIC OF UZBEKISTAN
Golestan Zeinabsadat , Ul Haq Ihtisham

This study investigates the causal nexus of imports, exports, and economic growth in Uzbekistan using time series evidence and advanced econometric techniques. The empirical analysis begins with unit root testing by employing the Augmented Dickey-Fuller (ADF) test, followed by the Johansen cointegration test to establish long-run equilibrium relationships between the variables. A Vector Error Correction Model (VECM) is employed to test short- and long-run causality. The results reveal unidirectional causality from imports to exports, changes in import activity significantly influence export performance. The study further finds bidirectional (bicausal) relations between imports and economic growth and between exports and economic growth. The implications of these findings are that both trade components do play a significant role in the economic development of Uzbekistan. The results emphasize the importance of balanced trade policy that benefits both growth in imports and promotion of exports in order to achieve long-term economic growth.

06/19/2025
  • PDF
535-542 149 0
IMPROVING THE EFFICIENCY OF FINANCING ECONOMIC EXPENDITURES THROUGH BUDGETARY FUNDS
Obid Meyliyev , Kamola Gofurova

This article analyzes the structure of budget expenditures in the Republic of Uzbekistan, with a particular focus on economic expenditures and their role in national economic development. The analysis covers the volume, directions, and prioritization of economic expenditures in recent years based on statistical data. In addition, the paper explores the mechanisms of distribution and redistribution of state budget revenues, highlighting their potential to stimulate economic growth. The article also gives special attention to the state strategies aimed at promoting a green economy and ensuring ecological sustainability. The research findings emphasize the relevance of allocating economic expenditures to strategic sectors and the necessity of optimizing and enhancing the efficiency of their implementation.

06/09/2025
  • PDF (Uzbek)
272-278 166 182
ANALYSIS OF KEY ECONOMIC INDICATORS OF ATTRACTING INVESTORS IN JOINT-STOCK COMPANIES
Ganijon Ibragimov

This article discusses the issues of ensuring transparency of economic indicators of joint-stock companies in our republic and openly disclosing changes in the value of their shares on the secondary market. This article examines the issues of attracting investors based on the analysis of the most important indicators of joint-stock companies.

08/29/2025
  • PDF (Uzbek)
469-483 104 85
ECONOMIC MECHANISM OF FINANCING PRIVATE UNIVERSITIES: STRUCTURAL AND INSTITUTIONAL ANALYSIS AND ECONOMETRIC MODELING OF COSTS
Sardor Rahimov

This article considers the theoretical and methodological foundations of the formation and modernization of the economic mechanism for providing financial support to non-state higher education institutions from the perspective of a systematic approach. In the context of deep institutional changes in the educational services market in developing countries, the search for optimal models for the financial sustainability of private educational corporations is becoming increasingly important. An in-depth financial and economic analysis of the structure of gross revenues, operating expenses and consolidated net profit was conducted for six major higher education market participants in the Kashkadarya region based on verified empirical data for 2025. Using applied econometric modeling methods, the author identified and estimated the short-term cost function of the private academic sector using the classical ordinary least squares (OLS) method. A highly significant correlation was found between the total operating costs and the scale of gross income of educational institutions R^2 = $0.95, p<0.001, which indicates the absence of clear economies of scale at the current stage of market institutionalization due to strict institutional constraints and market institutionalization. Conceptual frameworks for reforming the economic mechanism at the macro and meso levels are proposed, including public-private partnerships, tax subsidies, and diversification of financial flows

06/30/2026
  • PDF (Uzbek)
812-818 52 36
PROSPECTS FOR THE DEVELOPMENT OF GREEN FINANCING MECHANISMS IN UZBEKISTAN UNDER CONDITIONS OF ECONOMIC RECESSION
Bakhitjan Sarsenbaev , Rauan Sisenbaev , Balzira Khayirbaeva

This article provides a scientific analysis of the development of green financing mechanisms in the context of Uzbekistan during a period of economic recession. The study examines the country’s macroeconomic indicators, green finance instruments, and their impact on economic stability. In addition, based on the scientific works of international and domestic scholars, the theoretical foundations of green finance are discussed, and its practical state is assessed. The analysis substantiates the importance of green financing mechanisms in increasing investment activity, ensuring energy efficiency, and reducing economic risks. At the same time, existing problems in this area are identified, and scientifically grounded proposals and recommendations for addressing them are developed

05/20/2026
  • PDF (Uzbek)
161-165 100 84
STATISTICAL ANALYSIS OF ASSESSING THE LEVEL OF POVERTY REDUCTION BASED ON SOCIO-ECONOMIC DEVELOPMENT INDICATORS IN THE KASHKADARYA REGION
Fazliddin Muminov

Poverty reduction analysis and models based on the development of small business and private entrepreneurship are carried out in order to strengthen economic growth, social stability and economic policy of the state. There are several main approaches in these analyses and models. Below we will briefly touch on the main approaches and models related to poverty reduction and the development of medium-sized businesses. In the fight against poverty, various state assistance and subsidy programs, as well as the development of social protection systems, are of great importance. These programs often involve the provision of certain funds or services to low-income families.

02/28/2026
  • PDF (Uzbek)
540-547 108 26
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