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ECONOMETRIC ANALYSIS OF THE IMPACT OF MACROECONOMIC FACTORS ON THE LEVEL OF INDUSTRIALIZATION OF THE NATIONAL ECONOMY
Akrom Erkayev

This article presents the results of an econometric assessment of the impact of investment intensity and the share of finished-goods exports on the industrialization level of the national economy. After comparing several alternative specifications, a final two-factor model with a break variable was selected, with a coefficient of determination of 0.90. Analysis of individual coefficients shows that most of the variation in the industrialization level is explained by the 2017 regulatory regime change, while the investment and export coefficients do not reach conventional significance thresholds. The results of the error correction model, Granger causality test, bounds cointegration test, Chow structural stability test, CUSUM test, and retrospective forecast check corroborate the model's conclusions from multiple angles. The findings empirically substantiate that the effectiveness of industrial policy depends not on the volume of instruments but on the institutional structure.

07/22/2026
  • PDF (Uzbek)
69-78 17 10
ENERGY DYNAMICS AND ECONOMIC GROWTH IN CENTRAL ASIAN TRANSITION ECONOMIES: A PANEL DATA ANALYSIS (1990–2024)
Indira Khadjieva

This study examines the determinants of economic growth across five Central Asian transition economies; Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan; over the period 1990–2024, with particular focus on the role of energy consumption. Using a panel dataset of 170 observations drawn from World Bank indicators, the analysis integrates energy consumption, financial development, industrialization, and trade openness into a unified panel data framework. Given a non-standard Hausman test result stemming from high intra-class correlation, the fixed-effects model is adopted as the preferred specification on theoretical grounds, with random-effects estimates reported for comparative transparency. The fixed-effects results reveal that financial development is the strongest and most consistent driver of within-country GDP per capita growth, followed by industrialization measured by manufacturing value-added. Energy consumption exerts a significant positive effect, consistent with the growth hypothesis of the energy-growth nexus, though its modest coefficient suggests diminishing returns within countries over time. Trade openness, by contrast, is negatively associated with GDP per capita, reflecting the adverse consequences of poorly sequenced liberalization in economies with limited institutional capacity and export diversification. These findings contribute original empirical evidence on the energy-growth nexus in the post-Soviet Central Asian context, offering policy-relevant insights for financial sector deepening, industrial upgrading, energy efficiency investment, and strategic trade integration across the region

05/23/2026
  • PDF
210-223 99 55
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
ENVIRONMENTAL PROBLEMS IN THE PROCESS OF GLOBALIZATION AND THEIR IMPACT ON DEMOGRAPHIC PROCESSES
Kamoliddin Gulmurodov

This article comprehensively analyzes the environmental problems arising against the backdrop of the acceleration of the globalization process and their impact on demographic processes. In the 21st century, the deepening of economic cooperation, the acceleration of industrialization, the practice of unlimited use of resources, and the expansion of transnational production chains are leading to a sharp increase in environmental pressure. Such factors as atmospheric pollution, global warming, water scarcity, soil degradation, and a decrease in biodiversity are seriously changing not only natural ecosystems but also demographic indicators related to human life. The study highlights the direct and indirect impact of environmental problems on such processes as the birth rate, mortality rate, migration flows, public health, the quality of labor resources, and territorial demographic imbalance. In particular, in regions with a high level of environmental risk, such demographic changes as a decrease in births, an increase in morbidity, an increase in premature deaths, an increase in ecological migration, and a decrease in population potential have been noted. Also, based on scientific sources, it is shown that factors such as water scarcity or drought caused by global climate change have become one of the main determinants of population migration strategy

11/30/2025
  • PDF (Uzbek)
290-297 224 124
INFLUENCE OF INVESTITURE RELATIONS IN THE INDUSTRIALIZATION OF THE NATIONAL ECONOMY
Azizbek Samatov

In addition to machinery and equipment, finished metal products, computers, electronic and optical products, electrical equipment, machinery and equipment not included in other categories, vehicles, trailers and semi-trailers, production of other transport equipment and repair of machinery and equipment are scientifically analyzed. Moreover, the article analyzes the development of the “driver” areas of the industry in the strategy of Uzbekistan-2030 and the full employment of the industrial potential of the regions, increasing share of the production of food, beverages and tobacco products in the industrial structure of the production industry and the automotive industry

11/13/2025
  • PDF (Uzbek)
54-60 162 89
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