Attracting investment into the green economy of Uzbekistan: determinants, instruments and the financing gap

Tilavova , Iroda, Тилавова , Ирода, Tilavova , Iroda

Илғор иқтисодиёт ва педагогик технологиялар · 2026-yil

Annotatsiya

The article examines the mobilization of investment into Uzbekistan's green economy over 2016-2025 and identifies the factors that actually determine volume of green capital inflows. The aim of the study is to establish whether green investment responds primarily to the sovereign cost of capital or to the quality of the sectoral institutional framework in order to measure the residual financing gap and to formulate priority directions for investment policy. A log-linear ordinary least squares model with an author-constructed green institutional framework index, a financing gap calculation against the OECD benchmark of six billion US dollars per year and a structural analysis of green financing instruments are applied. The results show that the institutional framework is the dominant determinant (semi-elasticity 0.524, p < 0.001, R² = 0.981), whereas the sovereign risk premium is statistically insignificant (p = 0.455), because green projects are financed at project level under long-term offtake contracts and development bank risk mitigation rather than at sovereign terms. The financing gap has effectively closed in electricity generation but remains open in water, transport, waste and building efficiency and committed capital is highly concentrated on two sponsors. Five priority directions with 2030 target values are proposed

Maqola ma’lumotlari
MualliflarTilavova , Iroda, Тилавова , Ирода, Tilavova , Iroda
JurnalИлғор иқтисодиёт ва педагогик технологиялар
NashriyotТошкент давлат иқтисодиёт университети ҳузуридаги «Ўзбекистон иқтисодиётини ривожлантиришнинг илмий асослари ва муаммолари» илмий-тадқиқот маркази
ISSN1994-2025
Nashr sanasi2026-09-25
Jild3
Son5
Betlar128-133
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.60078/3060-4842-2026-vol3-iss5-pp128-133
Indeksga qo‘shilgan2026-09-26

DOI: 10.60078/3060-4842-2026-vol3-iss5-pp128-133 · Maqolaning asl sahifasi

Kalit so‘zlar

green economy, green investment, foreign direct investment, green bonds, green taxonomy, financing gap, cost of capital, institutional framework, Uzbekistan, зелёная экономика, зелёные инвестиции, ПИИ, зелёные облигации, разрыв финансирования, институциональная среда, Узбекистан, yashil iqtisodiyot, yashil investitsiyalar, TTXI, yashil obligatsiyalar, moliyalashtirish tanqisligi, institutsional baza, O‘zbekiston

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APATilavova , Iroda, Тилавова , Ирода, & Tilavova , Iroda (2026). ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP. Илғор иқтисодиёт ва педагогик технологиялар, 3(5), 128-133. https://doi.org/10.60078/3060-4842-2026-vol3-iss5-pp128-133
GOST (OAK)Tilavova , Iroda, Тилавова , Ирода, Tilavova , Iroda ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP // Илғор иқтисодиёт ва педагогик технологиялар. – 2026. – T. 3, № 5. – P. 128-133. – DOI: 10.60078/3060-4842-2026-vol3-iss5-pp128-133.
MLATilavova , Iroda, Тилавова , Ирода, and Tilavova , Iroda. “ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP.” Илғор иқтисодиёт ва педагогик технологиялар, 3(5), 128-133, 2026. https://doi.org/10.60078/3060-4842-2026-vol3-iss5-pp128-133
ChicagoTilavova , Iroda, Тилавова , Ирода, and Tilavova , Iroda. “ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP.” Илғор иқтисодиёт ва педагогик технологиялар, 3(5), 128-133 (2026). https://doi.org/10.60078/3060-4842-2026-vol3-iss5-pp128-133
HarvardTilavova , Iroda, Тилавова , Ирода, and Tilavova , Iroda (2026) ‘ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP’, Илғор иқтисодиёт ва педагогик технологиялар, 3(5), 128-133. https://doi.org/10.60078/3060-4842-2026-vol3-iss5-pp128-133
BibTeX
@article{tilavovairoda2026,
  title = {ATTRACTING INVESTMENT INTO THE GREEN ECONOMY OF UZBEKISTAN: DETERMINANTS, INSTRUMENTS AND THE FINANCING GAP},
  author = {Tilavova , Iroda and Тилавова , Ирода and Tilavova , Iroda},
  journal = {Илғор иқтисодиёт ва педагогик технологиялар},
  year = {2026},
  volume = {3},
  number = {5},
  pages = {128-133},
  doi = {10.60078/3060-4842-2026-vol3-iss5-pp128-133},
  url = {https://doi.org/10.60078/3060-4842-2026-vol3-iss5-pp128-133}
}

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