ECONOMIC STABILITY AND POVERTY REDUCTION THROUGH BUSINESS DIVERSIFICATION: AN ECONOMETRIC ANALYSIS OF THE CASE OF UZBEKISTAN
Keywords:
Business diversification, economic stability, poverty reduction, econometric analysis, economic growth, employment, sectoral development, income inequality, sustainable developmentAbstract
This article explores the impact of business diversification on economic stability and poverty reduction in Uzbekistan through an econometric lens. By analyzing data across various sectors and regions, the study identifies the correlation between diversified economic activities and key macroeconomic indicators such as GDP growth, employment rates, and poverty levels. The research employs multiple regression models and time-series analysis to evaluate the effectiveness of diversification strategies implemented in Uzbekistan over the past decade. The findings suggest that increased diversification in sectors such as agriculture, manufacturing, and services significantly contributes to economic resilience and poverty alleviation. Furthermore, the study highlights policy implications and recommends strategic interventions to foster inclusive and sustainable economic growth.
References
[1] Imbs, J., & Wacziarg, R. (2003). Stages of diversification. American Economic Review, 93(1), 63–86.
[2] Asian Development Bank. (2023). Uzbekistan Country Partnership Strategy 2022–2026.
[3] World Bank. (2022). Uzbekistan Economic Update: Navigating Reforms.
[4] Loayza, N. V., & Raddatz, C. (2006). The composition of growth matters for poverty alleviation. World Bank Policy Research Working Paper, No. 4077.
[5] Papageorgiou, C., & Spatafora, N. (2012). Economic diversification in low-income countries: Stylized facts and the way forward. IMF Staff Discussion Note, SDN/12/13.
[6] World Bank. (2023). Poverty and Equity Brief: Uzbekistan.
[7] Pomfret, R. (2010). Central Asia after Two Decades of Independence. The China and Eurasia Forum Quarterly, 8(4), 19–30.
[8] Ghosh, A. R., & Ostry, J. D. (2009). Choosing an Exchange Rate Regime. Finance & Development, 46(4), 38–40.
[9] Hausmann, R., & Hidalgo, C. A. (2011). The network structure of economic output. Journal of Economic Growth, 16(4), 309–342.
[10] Abdullaev, I., & Toirov, B. (2021). Kichik biznesni rivojlantirish orqali iqtisodiy o‘sish va bandlikni ta’minlash yo‘llari. Iqtisodiyot va Innovatsion Texnologiyalar, 5(2), 101–110.
[11] Makhmudov, R. (2020). Qishloq xo‘jaligini diversifikatsiyalash orqali iqtisodiy barqarorlikka erishish yo‘llari. Agrar Fanlar, 3(1), 45–53.
[12] Соколова, И. (2019). Диверсификация экономик Центральной Азии: тенденции и вызовы. Экономика и управление, 10(125), 34–41.
[13] Karimov, A., & Yusupov, N. (2022). Sanoat tarmoqlarining diversifikatsiyasi va kambag‘allik darajasiga ta’siri. Statistika va Tahlil, 4(3), 66–75.
[14] IFMR (2023). Hududlar kesimida iqtisodiy diversifikatsiya siyosatini takomillashtirish bo‘yicha tavsiyalar. Institut prognozlash va makroiqtisodiy tadqiqotlar.
[15] World Bank. (2022). Uzbekistan Economic Update: Structural Reforms and Growth.
[16] IMF. (2021). Diversification in Resource-Dependent Countries.
[17] Loayza, N., & Raddatz, C. (2010). The Composition of Growth Matters for Poverty Alleviation. Journal of Development Economics.
[18] Hausmann, R., & Klinger, B. (2007). The Structure of the Product Space and the Evolution of Comparative Advantage. Harvard CID.
[19] OECD. (2020). Enhancing SME Productivity and Innovation in Uzbekistan.
[20] Rakhmatov, D. (2024). Raqamli iqtisodiyotda biznes diversifikatsiyasi va kambag‘allikni qisqartirish imkoniyatlari. NUUJ Press.
[21] Khakimov, N. (2023). Hududiy rivojlanishda kichik biznes va tadbirkorlikning o‘rni. TDIU Tadqiqot Jurnali.
Published
Issue
Section
License
Copyright (c) 2025 Abdulaziz Kochkorov, N.R. Raximov
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
All Rights Reserved.
