The impact of centralized income payment on securities on market liquidity: an empirical study on the case of Uzbekistan

Rejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, Валиева, Ойдин

Иқтисодий тараққиёт ва таҳлил · 2024-yil

Annotatsiya

This study examines the impact of the new securities income payment order, implemented in June 2024, on the liquidity of Uzbekistan’s securities market. By analyzing stock market activity data from the first half of 2024 and August 2024, the research evaluates the current market conditions and forecasts potential changes under the new regulatory framework. The paper focuses on key aspects of the new order, such as centralized payments through the Central Securities Depository and the involvement of investment intermediaries. The findings suggest that the new order may enhance liquidity by speeding up payments and reducing operational risks. However, there may be temporary operational delays during the initial phase, which could negatively impact market activity. The study also reviews existing research on the effects of regulatory changes on liquidity in both developed and emerging markets. Unlike previous research, this study emphasizes short-term changes following the introduction of the new order and considers the unique characteristics of Uzbekistan’s market. Practical recommendations are provided to optimize the payment system and further improve market liquidity.

Maqola ma’lumotlari
MualliflarRejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, Валиева, Ойдин
JurnalИқтисодий тараққиёт ва таҳлил
NashriyotЎзбекистон иқтисодиётини ривожлантиришнинг илмий-тадқиқот маркази
ISSN2992-877X
Nashr sanasi2024-10-31
Jild2
Son10
Betlar416-424
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.60078/2992-877x-2024-vol2-iss10-pp416-424
Indeksga qo‘shilgan2026-08-27

DOI: 10.60078/2992-877x-2024-vol2-iss10-pp416-424 · Maqolaning asl sahifasi

Kalit so‘zlar

ликвидность, ценные бумаги, Узбекистан, Центральный депозитарий, выплаты, регламент, liquidity, securities, Uzbekistan, Central Securities Depository, payments, regulation, ликвидлик, қимматли қоғозлар, Ўзбекистон, Марказий депозитарий, тўловлар, регламент

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APARejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, & Валиева, Ойдин (2024). THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN. Иқтисодий тараққиёт ва таҳлил, 2(10), 416-424. https://doi.org/10.60078/2992-877x-2024-vol2-iss10-pp416-424
GOST (OAK)Rejabbaev, Sarvar va b. THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN // Иқтисодий тараққиёт ва таҳлил. – 2024. – T. 2, № 10. – P. 416-424. – DOI: 10.60078/2992-877x-2024-vol2-iss10-pp416-424.
MLARejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, and Валиева, Ойдин. “THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 2(10), 416-424, 2024. https://doi.org/10.60078/2992-877x-2024-vol2-iss10-pp416-424
ChicagoRejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, and Валиева, Ойдин. “THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 2(10), 416-424 (2024). https://doi.org/10.60078/2992-877x-2024-vol2-iss10-pp416-424
HarvardRejabbaev, Sarvar, Valiyeva, Oydin, Режаббаев, Сарвар, Валиева, Ойдин, Режаббаев, Сарвар, and Валиева, Ойдин (2024) ‘THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN’, Иқтисодий тараққиёт ва таҳлил, 2(10), 416-424. https://doi.org/10.60078/2992-877x-2024-vol2-iss10-pp416-424
BibTeX
@article{rejabbaevsarvar2024,
  title = {THE IMPACT OF CENTRALIZED INCOME PAYMENT ON SECURITIES ON MARKET LIQUIDITY: AN EMPIRICAL STUDY ON THE CASE OF UZBEKISTAN},
  author = {Rejabbaev, Sarvar and Valiyeva, Oydin and Режаббаев, Сарвар and Валиева, Ойдин and Режаббаев, Сарвар and Валиева, Ойдин},
  journal = {Иқтисодий тараққиёт ва таҳлил},
  year = {2024},
  volume = {2},
  number = {10},
  pages = {416-424},
  doi = {10.60078/2992-877x-2024-vol2-iss10-pp416-424},
  url = {https://doi.org/10.60078/2992-877x-2024-vol2-iss10-pp416-424}
}

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