Barriers to Growth: Analyzing the Development Challenges in Uzbekistan’s Stock Market
Keywords:
Stock Market Development, Uzbekistan Economy, Growth Obstacles, Regulatory Frameworks, Investor SentimentsAbstract
This thesis explores the multifaceted barriers obstructing the growth and
advancement of Uzbekistan’s stock market. By scrutinizing regulatory hurdles, economic
constraints, investor sentiments, technological limitations, and cultural factors, this study
aims to provide a comprehensive understanding of the challenges restraining the
expansion and efficiency of the stock market in Uzbekistan. Through an in-depth analysis
of these impediments and proposing actionable strategies, this research contributes to the
discourse on fostering a resilient and flourishing stock market ecosystem in Uzbekistan,
thereby fostering broader economic growth and prosperity.
References
Burenin A.N. (2011) Futures, forwards and options markets. -M.: Trivola. – 232 p.
Butikov I.L. (2019) Uzbekistan's securities market: new horizons. // Magazine "Market,
money and credit". - Tashkent. - No. 1 (260). – P. 58-69.
Data of "Tashkent" Republican Stock Exchange (2021). www.uzse.uz
Data from the World Federation of Exchanges (2019). www.world-exchanges.org
Decree (2022), Decree of the President of the Republic of Uzbekistan "On the
Development Strategy of New Uzbekistan for 2022-2026". February 7, 2017, PF-4947.
www.lex.uz.
Decree (2019), Decree of the President of the Republic of Uzbekistan "On measures to
fundamentally improve the management of state assets, the regulatory system of
combating monopoly and the capital market". January 14, 2019, PF-5630. www.lex.uz.
Eskindarov M., Zvonova E. (2019) Human finance. Textbook. - M.: KnoRus. - 424 p.
Hailemariam A., Guotai C. (2014) Stock Market Development and Economic Growth:
Empirical Evidence for Emerging Market Economies.
International Journal of Economics, Financeand Management Sciences, Vol. 2, no. 2,
pp. 171-181. doi: 10.11648/j.ijefm.20140202.19 Khalikov U.R. (2017)
Improving the financing of investment activities through the stock market
in Uzbekistan: Doctor of Philosophy (PhD) diss. abstract - Tashkent. - 24 p.
Kott S., Murray R.F., Blok F.E. (2010) "Security Analysis" by Graham and Dodd /
Per. fromEnglish. - M .: CJSC "Olymp-Business" .- 704 p
Mirkin Ya.M. (2009) Securities and the stock market.-M.: Publishing house
"Perspektiva". – 488p.
Najeb M.H. Masoud. (2013) The Impact of Stock Market Performance upon Economic
Growth.
Shohazamiy Sh.Sh. (2011) Methodological foundations and priorities for the strategic
development of the securities market in Uzbekistan, Abstract of the thesis ...
doctor.economy Sciences. - Tashkent, BFA.
Ataniyazov J.X, Jumayev N.X. (2018) Foreign direct investments as a factor of
increasing competitiveness of the economy. Publishing house " International Journal
of Economics, Commerce and Management". – 217-229 p
Braley Richard, Myers Stewart. Principles of Corporate Finance: Translated from
English. – Moscow: Olimp-Business, 2004.
Khamidulin M.B. Development of the Financial Mechanism of Corporate Governance,
Abstract of Doctoral Dissertation in Economic Sciences. - Tashkent, BFA, 2009.
Ahmed Imran Hunjra, Ploypailin, Kijkasiwat, Murugesh Arunachalam Helmi
Hammami Covid-19 health policy intervention and volatility of Asian capital markets
https://www.sciencedirect.com/science/article/pii/S0040162521002729
Securities Market. / Edited by E.F. Zhukov. – Moscow: UNITY, 2003. – p.13.
Sultonov Sh.N. Ways to Develop the Stock Market in Uzbekistan. Economics and
Education / Issue 5, 2022. p.185.
Decree of the President of the Republic of Uzbekistan No. PQ-90 “On Additional
Measures for the Introduction of Effective Mechanisms to Support the Capital Market”
dated January 17, 2022.
