ANALYSIS OF THE EMPIRICAL STUDY OF THE FACTORS AFFECTING THE INCREASE IN THE FLOW OF FOREIGN DIRECT INVESTMENTS TO THE INDUSTRIAL SECTOR OF UZBEKISTAN
Keywords:
Investment factors, manufacturing industry, analysis, investment flow, economic indicators, industrial growth.Abstract
The study examines the key determinants influencing the growth of foreign direct investment (FDI) in Uzbekistan's industrial sector through empirical analysis. The research investigates various economic, institutional, and policy factors that attract or deter international investors in the country's manufacturing and industrial development. Using statistical methods and econometric modeling, the study evaluates the relative importance of factors such as market size, labor costs, infrastructure quality, regulatory environment, and economic reforms in driving FDI flows. The findings provide valuable insights for policymakers and stakeholders to enhance Uzbekistan's investment climate and industrial competitiveness. This analysis is particularly relevant given Uzbekistan's ongoing economic liberalization and its strategic goal of modernizing and diversifying its industrial base through increased foreign investment.
References
Arazmuradov A.(2015). Can Development Aid Help Promote Foreign Direct Investment?Evidence from Central Asia. Economic Affairs,Vol 35(1),123-136.
Borensztein, E., De Gregorio, J. and Lee, J. W. (1998).How does foreign directinverstment affect economic growth? Journal of International Economics,Vol 45,115-135.
Campos, N. & Kinoshita, Y. (2002). Foreign direct investment as technology transferred:some panel evidence from the transition economies. The Manchester School, vol. 70 (3),398–419.
Craigwell, R. Foreign Direct Investment and Employment in the English- and Dutch-speaking Caribbean Port of Spain, International Labour Office, 2006.
Don Clark P., Hihgfill J., De O. Campino J., Rehman S.S. (2011). FDI, technologyspillovers, growth, and income inequality:A selective survey.Global economy journal,Vol. 11,Issue 2, article 1,1−42.
Guimaraes, P., Figueiredo, O., & Woodward, D. (2000). Agglomeration and the location of foreign direct investment in Portugal. Journal of Economic Geography, 2(1), 39-58. https://doi.org/10.1093/jeg/2.1.39
State Committee on Statistics of the Republic of Uzbekistan. (2022). Annual Report on Foreign Direct Investment and Economic Performance. State Committee on Statistics of the Republic of Uzbekistan.
Syed Zia Abbas Rizvi and Muhammad Nishat, (2009), The Impact of Foreign DirectInvestment on Employment Opportunities: Panel Data Analysis: Empirical Evidence fromPakistan, India and China, The Pakistan Development Review, 48, (4), 841–851
Tkachenko, O.,Mosiychuk,T.(2014). Labour Force Availability as an EconomicDevelopment Factor in Post Socialist Countries. Economics & Sociology,Vol. 7, No 2, 64-79.
Weisskopf, T. (1972a). The impact of foreign capital inflow on domestic savings inunderdeveloped countries.Journal of International Economics, 2(1):25-38.
Weisskopf, T. (1972b). An Econometric Test of Alternative Constrains on the Growth ofUnderdeveloped Countries. The Review of Economics and Statistics,54(1), 67-78.
World Bank (2009). Job Generation and Growth (JoGG) Decomposition Tool.Understanding the Sectoral Pattern of Growth and its Employment and Productivity Intensity.Reference Manual and User’s Guide Version 1.0. Poverty Reduction and Economic Management(PREM). World Bank.