Renewal of economic governance is necessary condition on the way to new Uzbekistan


DOI: 10.34130/2070-4992-2021-1-3-347

Full article  (in English English (United Kingdom))

Rasulev A. F. - Doctor of Economics, Professor, Tashkent State University of Economics, Tashkent, Uzbekistan, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Voronin S.A. - Doctor of Economics, Chief Specialist, Institute of Budget and Tax Research, Tashkent, Uzbekistan; Professor, Tashkent Branch of Plekhanov Russian University of Economics, Tashkent, Uzbekistan, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Structural transformations in the economy of Uzbekistan require new approaches to the system of economic management. In the article, the authors define the main directions of the country's economic development in modern conditions and propose certain ways to form a new system of economic management. First of all, it emphasizes the need to form a flexible system of economic management, providing for the reduction of state interference in the activities of economic entities. It was determined that the second most important direction of economic development is poverty reduction and employment expansion. As a key factor of reforms in the system of economic management, it is proposed to consider the institutional factors of market transformations and take into account their effect. At the same time, it is proposed not only to develop market management mechanisms, but also to define clear boundaries for the use of administrative instruments. The importance of the country’s main resource – accumulated human capital is especially emphasized. A number of measures are proposed to create a modern system for the reproduction of human capital.

Keywords: governmental support, budget resources, institutional factors, market mechanisms, transformation.


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For citation: Rasulev A. F., Voronin S. A. Renewal of economic governance is necessary condition on the way to new Uzbekistan // Corporate Governance and Innovative Economic Development of the North: Bulletin of the Research Center of Corporate Law, Management and Venture Investment of Syktyvkar State University. 2021. Vol. 1, issue 3. Р. 347–354. DOI: 10.34130/2070-4992-2021-1-3-347 (In Russian).