Vol. 1 No. 8 (2023): Economic development and analysis

Vol. 1 No. 8 (2023): Economic development and analysis
Published: 12/31/2023

Full Issue

Articles

IMPROVING THE THEORETICAL FOUNDATIONS OF IMPROVING EFFICIENCY OF BUDGET POLICY
Akmal Abduvokhidov, Sanobar Matkuliyeva

Ensuring sustainable economic growth in Uzbekistan by diversifying the structure of the economy and enhancing competitiveness, consistent implementation of market mechanisms in all sectors of the economy, reducing poverty and improving the welfare of the population, accelerated development of the digital economy, transformation of state-owned companies, and reducing state participation in the economy are the priorities of the economic reforms currently underway. Within the framework of these economic reforms, such issues as improving budget policy and improving the efficiency of using budget funds occupy an important place. In reliance upon the considerations specified above, this article analyzes the theoretical aspects of improving the effectiveness of budget policy.

5-19 122 106
ENHANCING EFFICIENCY OF THE TAX SYSTEM IN THE CONDITIONS OF THE ECONOMY MODERNIZATION
Sharofiddin Borotov

The article is devoted to the consideration of the role of taxes in the modernization of our country’s economy, the areas for enhancing efficiency of the tax system, the scientific and theoretical views of foreign and domestic scholars in this regard, the analysis of the statistical indicators of taxes. In addition, scientifically based conclusions and proposals for further improvement of the tax system have been developed.

20-26 161 82
ELECTRONIC MONEY AND THEIR ROLE IN THE DIGITAL ECONOMY
Gulnora Ismoilova

This article covers the opinions and conceptual approaches of scientists aimed at defining electronic money and its essence. Emergence and development stages of electronic money are studied. Different views of classical scholars and researchers in conceptual approaches to the interpretation of electronic money have been studied and analyzed by the author. Informationization of the economy and the introduction of electronic money, different interpretations of electronic money are among them.

27-32 215 98
CORPORATE FINANCE ANALYSIS THROUGH THE CASE OF ENGRO FOODS LIMITED AND NESTLE PAKISTAN LIMITED COMPANIES IN PAKISTAN
Rukhsora Mardieva

The food and beverages industry is changing environmental regulations, and handling the unique issues involved with organic production as it is major industrial and economic forces worldwide. Pakistan has potentially become one of the Next 11 countries which has emerging markets leading to booming economics of the globe. This article is based on the key financial players of the food industry of Pakistan, which are ENGRO FOODS Limited and NESTLE Pakistan Limited.

33-40 350 226
PECULIARITIES OF ACCOUNTING FOR EXPORT-IMPORT OPERATIONS AND THE WAYS OF THEIR IMPROVEMENT
Asliddin Misirov

Currently one of the pressing issues today is the improvement of export-import operations and settlements based on international standards. A number of decisions, resolutions, and instructions of the Central Bank adopted in our country in recent years define the tasks of bringing settlements with export-import operators to a new level. The article outlines the essence of the content of accounting for export-import transactions and the features of the organization of accounting, as well as conclusions and proposals for improving their accounting.

41-46 167 72
FEATURES OF TOURISM INFRASTRUCTURE MANAGEMENT
Shukhrat Ruziyev

This article is devoted to the features of tourism infrastructure management, the features of using tourism enterprise management, tourism center management, public management, cooperative management, regional management, as well as management models of international corporations in tourism infrastructure management.

47-52 108 77
BASIC THEORETICAL APPROACHES TO MANAGING INVESTMENT ACTIVITIES OF LARGE BUSINESS ASSOCIATIONS
Umarali Sobirov

This article is aimed at studying the main theoretical approaches to managing the investment activities of large industrial associations. Investment management is a complex and multifaceted process that requires competent analysis, strategic planning and effective resource management. Proper investment management contributes to sustainable economic growth, job creation and development of society as a whole.

53-58 77 49
SIGNIFICANCE OF DIGITAL TECHNOLOGIES IN DECISION MAKING IN THE FINANCIAL CONTROL AREA
Mukhammadali Temirov

With the rapid development of digital technologies, financial control has become a key area of application for innovation. financial control became the main area of application of innovations. This article explores the importance of using digital innovations such as artificial intelligence, big data analytics and blockchain to streamline and improve decision making. Process automation, improvement of analytical capabilities, as well as the impact of electronic payments and financial technologies on the efficiency of financial management are studied. The article assesses the problems associated with the introduction of digital technologies in the field of financial control, and presents proposals for conducting scientific research and the successful application of innovations in this area.

59-68 147 70
POSSIBILITIES OF USING DIGITAL MARKETING IN THE PREPARATION OF TOURISM CONTENT OF BUKHARA REGION
Javlon Tokhirov

Digital technologies are constantly developing and entering various areas of our life. New innovations such as mobile applications, virtual reality, augmented reality and social networks offer new opportunities and improvements in digital tourism. However, in-depth research is needed to understand the specifics of using these digital technologies and their impact on tourists. This article describes the possibilities of using digital marketing in the preparation of tourism content of Bukhara region.

69-75 75 46
THEORETICAL ASPECTS OF THE FORMATION OF CONSUMER BEHAVIOR IN THE EDUCATIONAL SERVICES MARKET
Naima Khalmurzayeva

The article is devoted to the study of theoretical aspects of the formation of consumer behavior in the educational services market. The author reviews the basic concepts and theories underlying the understanding of the mechanisms influencing the choice and perception of educational services by consumers. The article examines the actors influencing the formation of consumer preferences in the field of education, including sociocultural, economic and psychological aspects.

76-84 125 60
THE CONCEPT OF MATERIALITY IN THE DIGITAL ECONOMY AND ITS IMPROVEMENT IN RELIANCE UPON THE INTERNATIONAL STANDARDS
Nasiba Khasanova

This article outlines the essence of the concept of materiality in the digital economy. Based on international practice, proposals and recommendations for its application in the accounting and auditing system of our country have been developed.

85-91 73 60
COST EFFICIENCY ANALYSIS OF PUBLIC HIGHER EDUCATION INSTITUTES
Shukhrat Kholmuminov

The resource dependency theory (RDT) is used to guide an empirical analysis of the higher education system in Uzbekistan. The regression models are applied to a panel dataset consisting of 62 Uzbek higher education institutions, covering the period 2000-2013, to examine the determinants of the expenditure decisions made by institutions. The key hypothesis is concerned with the relationship between the share of revenue from tuition fees and the share of expenditure spent on teaching. The analysis attempts to control for unobserved heterogeneity through the inclusion of fixed effects. Instrumental variables estimation is used to address the potential endogeneity of the relationship between these two variables. The main finding is that there is a positive and statistically significant relationship between the share of revenue from tuition fees and the share of expenditure spent on teaching, even after other factors are held contact, which is consistent with a core premise of RDT.

92-100 74 54
METHODS AND PRINCIPLES OF ACCOUNTING
Nizamiddin Khudayberdiev

This article considers the basics of accounting in enterprises and organizations, the methods and principles of accounting, the scientific and theoretical views of foreign and local scientists in this regard, and the theoretical foundations of the field. In addition, the presents conclusions and proposals for further improvement of the methods and principles of accounting.

101-108 911 126
ISLAMIC FINANCE: PROBLEMS AND SOLUTIONS
Fakhritdin Khudaynazarov

This article discusses the problems of Islamic finance and ways to solve them. In addition, the opinions of expert economists and foreign experience are considered, scientific, methodological, practical proposals and recommendations on problematic situations in the Islamic finance system and the ways to solve them have been worked out.

109-114 200 94
REDUCING POVERTY THROUGH DEVELOPMENT OF SMALL BUSINESS AND PRIVATE ENTREPRENEURSHIP
Olimjon Yusufaliyev, Durdona Temirova, Lobar Muratjanova

This article is devoted to consideration of the prospects for the development of small business and private entrepreneurship in our country, the directions for reducing poverty based on the development of entrepreneurship through foreign models. Moreover, the article provides a comparative analysis of the scientific and theoretical views of foreign and local scholars. The problems related to the development of small business and private entrepreneurship have been revealed, and conclusions and proposals for solving these problems have been developed.

115-122 157 90
THEORETICAL FOUNDATIONS OF INVENTORY ACCOUNTING
Nigora Alimkhanova

This article is devoted to the theoretical basis of reflecting the relations related to inventory in business entities of different types of ownership operating in our country in accounting. The types of inventories in business entities, the main tasks of the accountant in accounting for them, as well as opinions on the state of inventory and the establishment of internal control over their storage are highlighted. To fulfill these tasks, first of all, the proposals and recommendations on the use of primary accounting data, synthetic and analytical account registers have been developed. This eliminates several problems in the organization of inventory accounts in economic entities and serves to raise the level of financial reporting dataaccuracy.

123-130 89 54
ORGANIZATIONAL MECHANISM OF INTEGRATED TECHNIQUE FOR ASSESSING EFFICIENCY OF SUSTAINABLE DEVELOPMENT OF ENTERPRISES
Gulchehra Allayeva

This article is dedicated to the study of the organizational mechanism of the integrated methodology for evaluating efficiency of sustainable development, exemplified by the enterprises of the fuel and energy industry of Uzbekistan. In addition, the paper is devoted to the consideration of the theoretical and practical aspects of management, including economic, administrative, and socio-psychological methods. The authors propose a comprehensive approach to diagnosing the sustainability of enterprises in reliance upon a number of indicators and taking into account various aspects of enterprise activities.

131-139 112 52
ESSENTIALITY OF WATER FLOW DISTRIBUTION OF CENTRAL ASIAN RIVERS IN IMPROVING THE ECONOMIC-ECOLOGICAL CONDITION OF IRRIGATED LAND RESOURCES
Abdurshid Altiyev, Zakir Mirzayev

Currently, the problem of having the necessary amount of water resources to fully meet agricultural needs and increase productivity remains the main obstacle to the expansion of cultivated areas. About 80% of the water resources used in our republic correspond to transboundary water flow. This implies the importance of interregional cooperation for sustainable management of water resources in Central Asian countries, especially in the Republic of Uzbekistan.

140-145 72 46
DEVELOPING THE POTENTIAL OF GREEN TOURISM IN NEW UZBEKISTAN
Ravshan Akhmedkhodjaev

This scientific article emphasises the importance of the tourism industry in the economy of Uzbekistan, summarises current initiatives, current trends, economic indicators, and considers the problems of turning green tourism into a highly profitable sector of the economy, improving the development of the potential of green tourism in New Uzbekistan.

146-154 170 65
ENSURING FINANCIAL SUSTAINABILITY BY USING ADVANCED MODELS OF INSURANCE COMPANIES MANAGEMENT
Dilshod Bahriyev

This article investigates the impact of the management model of a company, which is one of the leaders in the insurance market, on the management of the company, their interdependence, the impact on the investment potential of the company, the sources of financial activity of insurance companies, the reserves of the enterprise, the mechanism of their formation. In addition, an analysis of the main financial and economic indicators of the insurance company was carried out, the participation of the insurance company in the insurance market, the approaches and views of foreign scholars in this regard, the investment policies of insurance companies, an analysis of problems in the insurance market were studied, and development prospects were presented in detail. Scientific proposals and practical recommendations aimed at further development and increasing their financial and economic potential with the widespread use of the advanced management models for insurance companies in Uzbekistanhave been developed.

155-163 130 79
ENHANCING EFFICIENCY OF THE TAX ADMINISTRATION THROUGH THE EXPANSION OF THE LABELING SYSTEM
Azizbek Ghiyosov

The article discusses such issues as introduction of labeling and digitalization system, the use of the opportunity to further expand the tax base by reducing the shadow economy scale, sequence of development of the labeling system by products, manufacturers and importers. In addition, the article provides the proposals developed for optimizing liability measures for non-compliance with this system.

164-174 111 56
STRATEGY FOR INNOVATION-BASED DEVELOPMENT OF THE OIL AND GAS INDUSTRY OF UZBEKISTAN
Abrorzhon Kucharov, Dinora Ishmanova

In order to regulate the monopoly industry by the state, in particular, the oil and gas industry, there have been undertaken specific measures to revise tariffs based on market principles, stage-by-stage transfer of oil depots and regional gas supply services to the trust management of investors on the basis of public-private partnerships.

175-181 63 50
ANALYSIS OF FINANCIAL RESULTS OF ENTERPRISES OPERATING IN OUR COUNTRY
Mamura Kushakova

This article focuses on the analysis of indicators detailing the financial results of enterprises operating in our country. In addition, the article specifis that financial results can be determined based on the analysis of indicators expressed in the form of profit or loss of an economic entity.

182-187 59 66
IMPROVEMENT OF STRATEGIC PLANNING FOR REGIONAL PRODUCTION DEVELOPMENT
Bakhtiyor Mustafaev

The article examines the nuances of implementing strategic planning for the development of production in the regions. Unique socio-economic environments, cultural factors, as well as geographic variations require a tailored approach to strategic planning. Analyzing theoretical frameworks, methodological approaches and real practices specific to Uzbekistan, this article provides insight into how strategic planning can be effectively used to promote economic growth and sustainable development in the country's regions.

188-195 64 34
THEORETICAL FOUNDATIONS OF FINANCING JOINT-STOCK COMPANIES THROUGH CORPORATE SECURITIES
Mirsaid Norkulov

This article discusses the advantages and analysis of financing joint-stock companies through corporate securities and improving development prospects. In addition, current problems in the prospects for the development of financing of joint-stock companies through corporate securities in the Republic of Uzbekistan are presented, as well as the author’s approaches and proposals for eliminating them.

196-204 63 59
DIGITAL LOGISTICS AND CLOUD TECHNOLOGIES OF UZBEKISTAN
Dono Pulatkhojaeva

The article discusses the currently relevant topic of the formation of trends in digital logistics. In the digital economy, logistics and supply chain management are considered the driver based on the integration and coordination of relationships between consumers and producers of goods and services. The research paper investigates that the end-to-end integration of processes using digital information technologies enables to accelerate all logistics business processes and predict new technological models. These parameters or elements include basic technologies that can provide fast, cheap, reliable and sustainable logistics.

205-214 107 75
THE ROLE AND ESSENTIALITY OF QUALITY EDUCATION IN THE FORMATION OF HUMAN CAPITAL AND PROVIDING MOBILITY IN THE LABOR MARKET
Rakhimberdi Rajabbaev

This article is devoted to the comprehensive investigation of the role and essentiality of quality education in the formation of human capital and ensuring mobility in the labor market. Moreover, the article covers such issues, as the trends in the formation of human capital based on the independence of the modernization of continuous vocational education in the country and the principles of lifelong learning.

215-221 57 43
ECONOMETRIC ANALYSIS OF ASSESSING THE IMPACT OF THE SECONDARY SECURITIES MARKET ON THE STOCK MARKET INDEX OF UZBEKISTAN
Abdumo’min Ro’ziqulov

This paper presents an autoregressive distributed lag (ARDL) model to estimate the impact of secondary stock market capitalization, number of trades in the secondary stock market, and secondary stock market turnover on the stock market index. At the same time, based on econometric analysis, long-term and short-term connections between changes in the market turnover of secondary securities and the stock market index are described.

222-231 77 62
WAYS TO DEVELOP AN INSURANCE SYSTEM IN UZBEKISTAN
Dilfuza Saidova

Particular attention is paid to insurance and insurance activities through theoretical studies of the insurance system. Development of insurance relations is a strategically important task in the implementation of the activities of modern economic systems. A sustainable insurance system contributes to the development of the national economy. In this regard, first of all, the features of the formation and development of the insurance system are considered, along with attracting additional investment resources for the development of the financial services market in the national economy, and the development of market relations in the insurance sector.

232-241 66 79
THE ROLE OF ELECTRICITY PRODUCING ENTERPRISES IN THE DEVELOPMENT OF THE ENERGY SECTOR OF THE REPUBLIC
Saodat Saitkamolova

The article examines the impact of energy resources on the economic growth of Uzbekistan. It focuses on analyzing the data related to the installed capacity of power stations and the consumption of electricity in various economic sectors. In addition, the article considers the growth of alternative energy sources and their contribution to the overall energy balance of the country.

242-248 52 43
KEY INDICATORS OF POVERTY REDUCTION IN TERMS OF ENSURING ECONOMIC SECURITY
Ikhtiyor Sattorov

This article analyzes economic indicators in the context of ensuring the economic security of the republic. It has been scientifically studied that solving the issue of employment through business entities, on the one hand, ensures economic growth, and on the other hand, reduces the level of poverty as a result of creating the opportunity to accumulate sufficient resources for social protection of the population.

249-256 66 67
APPLICATION OF INNOVATION-BASED TECHNOLOGIES IN THE ACTIVITIES OF BANKS
Shakhrukh Sultanov

The article discusses significance of using innovation-based technologies in banks, focus areas and methods of applying innovations, and increasing the competitiveness of banks using innovative technologies. In addition, the article presents scientific and theoretical views and conclusions of foreign and domestic scientists concerning bthis issue. Moreover, the article provides the prospects for the use of innovation-based technologies in banks, problems associated with the industry, as well as relevant conclusions and proposals.

257-263 73 59
RANKING OF HIGHER EDUCATIONAL INSTITUTIONS AND ITS IMPACT ON FINANCIAL MANAGEMENT
Mukhtorkhon Tashkhodjaev

The article analyzes modern theories of international and local ranking of higher educational institutions and their features. Scientific conclusions aimed at assessing the impact of financial management on rankings and competitiveness in the higher education systemhave been drawn up. In reliance upon the research results scientific proposals and recommendations aimed at enhancing competitiveness of higher education institutions have been developed.

264-272 81 66
THE ROLE OF DIGITAL TECHNOLOGY IN SUSTAINABLE DEVELOPMENT OF AGRICULTURE
Zilola Teshaboeva

The article examines the scope of application of digital technologies in agriculture to ensure its sustainable development. In reliance upon the analysis of the reforms implemented in Uzbekistan, the ways of effective use of digital technologies in the formation of "smart agriculture" have been proposed.

273-279 64 52
DEVELOPMENT OF FINANCIAL MANAGEMENT AND ITS PLACE IN THE SYSTEM OF SMALL AND MEDIUM BUSINESS MANAGEMENT
Nursuluv Tuganbekova

This article is devoted to defining the features of financial management in modern conditions. The article provides comprehensive examination of the concept of “financial management”, substantiates its meaning, presents the basic principles of financial management, examines the role of financial management in the activities of small and medium-sized firms, and also identifies key aspects, problems and possible ways to resolve them.

280-289 180 65
METHODOLOGICAL ASPECTS IN ASSESSING THE INVESTMENT ENVIRONMENT IN THE SPECIAL ECONOMIC ZONE
Jasur Umirzokov

This article was described methodological aspects of assessment of the investment environment in the special economic zone. Have been studied Gain-Haizlep's terminological pipamide representing the attractiveness of the investment environment, as well as "BERI" index for assessing the attractiveness of the investment environment. Were determined and classified that indicators of assessment for investment activity and investment environment of special economic zones. The significance of special economic zone investment activity in the assessment of the investment environment is explained, and the role of tax incentives given to special economic zones in increasing the attractiveness of the investment environment is described. As a result, proposals and recommendations for assessing the attractiveness of the investment environment have been developed.

290-301 48 45
NECESSARY PRODUCT AS A METHODOLOGICAL BASIS FOR THE COST OF LABOR FORCE
Anvar Usmanov

The article considers the category of a necessary product as an employee's livelihood fund, and its cost is the cost of labor. At the same time, the necessary product is a single measure of workers across the entire production sector, but as an abstract category. In practice, wages, as the converted value of labor, are differentiated depending on the productive power of labor.

302-307 56 47
INTERNATIONAL PRACTICE OF DEVELOPING FINANCIAL SERVICES AND APPLICATION OF ITS EXPERIENCE IN THE NATIONAL ECONOMY
Niginahon Khaidarova

The article discusses the opinion of researchers in the field of financial technology and services, provides the stages of development of financial technology, experience and practice in the development of fintech in developed countries. Factors stimulating their development and obstacles hindering the development of fintech have been identified. In addition, the prospects for their widespread introduction in the national economy have been analyzed, as well as the problems that need to be solved to eliminate the factors preventing their wider use in the national economy.

308-316 79 48
PROBLEMS OF POVERTY IN THE SOCIAL POLICY OF UZBEKISTAN
Oydin Hamrakulova, Gullola Ibragimova

Currently solving social problems is becoming crucially important in the national economies of many developed and developing countries. In Uzbekistan particular attention is also paid to these problems in the government’s public policy. The paper examines not only the problems of poverty, but also offers recommendations on this issue.

317-322 93 51
UTILIZING THE OPTIMAL LEVEL OF PUBLIC DEBT IN COORDINATING FISCAL AND MONETARY POLICIES IN UZBEKISTAN
Hakimjon Hakimov

The article highlights the issues of establishing the optimal level of public debt in Uzbekistan, exploring the relationship and coordination between fiscal and monetary policies. Various economic models and indicators are considered, including the inflation rate, unemployment rate, GDP per capita and interest rates. The potential consequences of an excessive increase in public debt are identified, including the risk of default and economic instability.

323-333 174 59
MARKET AND DEVELOPMENT TRENDS OF VEGETABLE PRODUCTS IN UZBEKISTAN
Ikhtiyor Sharipov

This article examines the consumption of vegetables by the population of Uzbekistan and the level of its development. Per capita consumption of vegetables in Uzbekistan has been determined. Based on the inertial and modernization scenarios, the change in the volume of daily consumption of vegetables by the population is forecasted.

334-343 56 44
THEORETICAL ASPECTS OF THE IMPACT OF THE PROCESS OF INDUSTRY SPECIALIZATION ON THE DEVELOPMENT OF SMALL BUSINNESSES
Kuvondik Sharipov

This article discusses the sectors of the economy, their various aspects, the direction of influence of the specialization process on the development of entrepreneurial activity, the impact of specialization on the development of small businesses by industry or type of economic activity, presents the features of approaches to the concept of “industry” from economic and legal points of view, organizational structure small businesses in Europe and Asia from an industry point of view, distribution of investments in the European Union by industry.

344-352 65 40
FORECASTING THE EFFICIENCY OF INNOVATION BANKING SERVICES
Takhir Sharipov

In the research article we forecast the efficiency of remote banking services of commercial banks. Statistical data of PJSC Trustbank and JSC Turonbank have been used to determine the forecast indicators. The forecast was made until March 2026, and the indicators were transferred to real figures.

353-364 71 55
PRIORITY FOCUS AREAS AND PROSPECTS FOR IMPROVING THE LIVING STANDARD OF THE POPULATION OF UZBEKISTAN
Bibijon Sharipova

This article considers the tasks of achieving the 85th goal of the development strategy of New Uzbekistan for the years 2022-2026, the main indicators of the population’s living standard, the basic principles and trends of income growth, focus areas of enhancing the living standard of the population. Moreover, the article reveals the current situation of the level of supply of goods and prospects for the long-term use of the population in Uzbekistan.

365-373 47 51
GREEN ECONOMY: THE NEED AND PROSPECTS OF DEVELOPMENT
Muhammadjon Erkhanov

The article describes the trends in the development of the "green" economy, the goals and objectives of increasing its competitiveness due to the modernization and diversification of the leading sectors of the economy. Proposals have been put forward to eliminate the existing risks for the implementation of the "green" economy. Particular attention is paid to the formation of the "green" economy, and measures aimed at stimulating the development of the sector are presented.

374-380 182 92