Influence of monetary policy instruments on macroeconomic stability during the transition to inflation targeting in Uzbekistan

Duskobilov Umidjon Sharofiddinovich, Duskobilov Umidjon Sharofiddinovich

Меҳнат иқтисодиёти ва инсон капитали · 2023-yil

Annotatsiya

The article presents economic aspects of moving to inflation targeting regime. Foreign experience in transition to inflation targeting has been studied empirically. The impact of Uzbekistan’s monetary policy stability indicators on economic growth was also investigated by using four criteria from the 4x2 matrix model in 2011-2020. Based on obtained results, the Phillips-Perron and extended Dickey-Fuller tests are used to determine whether variables are stationary or not. The long-term correlation between the variables is checked using the Johansen cointegration test. The results show that increases in bank capital adequacy, loan portfolio, and money supply, as well as lower inflation, all help to maintain macroeconomic stability. However, rising volume of bank deposits and appreciation of foreign currency against Uzbek sum has a negative impact on economic growth. In addition, liquidity ratio, state gold and foreign exchange reserves are insignificant and have no effect on economic growth.

Maqola ma’lumotlari
MualliflarDuskobilov Umidjon Sharofiddinovich, Duskobilov Umidjon Sharofiddinovich
JurnalМеҳнат иқтисодиёти ва инсон капитали
NashriyotТДИУ
ISSN3030-3117
Nashr sanasi2023-10-19
Betlar335-342
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.67668/lehc/voliss/459
Indeksga qo‘shilgan2026-10-24

DOI: 10.67668/lehc/voliss/459 · Maqolaning asl sahifasi

Kalit so‘zlar

pul-kredit siyosati, inflyatsiyani nishonlash, foiz stavkasi, valyuta kursi, YaIM, monetary policy, inflation targeting, interest rate, exchange rate, GDP, CPI

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APADuskobilov Umidjon Sharofiddinovich, & Duskobilov Umidjon Sharofiddinovich (2023). INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN. Меҳнат иқтисодиёти ва инсон капитали, 335-342. https://doi.org/10.67668/lehc/voliss/459
GOST (OAK)Duskobilov Umidjon Sharofiddinovich, Duskobilov Umidjon Sharofiddinovich INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN // Меҳнат иқтисодиёти ва инсон капитали. – 2023. – P. 335-342. – DOI: 10.67668/lehc/voliss/459.
MLADuskobilov Umidjon Sharofiddinovich, and Duskobilov Umidjon Sharofiddinovich. “INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN.” Меҳнат иқтисодиёти ва инсон капитали, 335-342, 2023. https://doi.org/10.67668/lehc/voliss/459
ChicagoDuskobilov Umidjon Sharofiddinovich, and Duskobilov Umidjon Sharofiddinovich. “INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN.” Меҳнат иқтисодиёти ва инсон капитали, 335-342 (2023). https://doi.org/10.67668/lehc/voliss/459
HarvardDuskobilov Umidjon Sharofiddinovich, and Duskobilov Umidjon Sharofiddinovich (2023) ‘INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN’, Меҳнат иқтисодиёти ва инсон капитали, 335-342. https://doi.org/10.67668/lehc/voliss/459
BibTeX
@article{duskobilovumidjonsharofiddinovich2023,
  title = {INFLUENCE OF MONETARY POLICY INSTRUMENTS ON MACROECONOMIC STABILITY DURING THE TRANSITION TO INFLATION TARGETING IN UZBEKISTAN},
  author = {Duskobilov Umidjon Sharofiddinovich and Duskobilov Umidjon Sharofiddinovich},
  journal = {Меҳнат иқтисодиёти ва инсон капитали},
  year = {2023},
  pages = {335-342},
  doi = {10.67668/lehc/voliss/459},
  url = {https://doi.org/10.67668/lehc/voliss/459}
}

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