Scientific Article: Problems in Investment Financing and Methods for Improving Their Resolution (Case of Uzbekistan)
Keywords:
Investment Financing, Capital Markets, FDI, Uzbekistan, Financial Instruments, Risk Mitigation, Macroeconomic Stability.Abstract
This study examines the structural bottlenecks and systemic challenges in investment financing within the transition economy of Uzbekistan. Despite significant liberalization reforms since 2017, the reliance on public debt and state-guaranteed loans remains high, necessitating a shift toward private equity and capital market instruments.
References
Central Bank of Uzbekistan. Monetary Policy Report - Q4 2024. Tashkent; 2025.
World Bank. Uzbekistan Economic Update: Toward a Market Economy. Washington (DC); 2024.
Karimov A, Smith J. Financial Market Liberalization in Central Asia. J Emerg Mark Financ. 2023;15(2):145-162.
Statistics Agency under the President of the Republic of Uzbekistan. Investment Activity Yearbook. 2024.
Miller M. Cost of Capital and Investment Theory. Econometrica. 2022;90(4):112-130.
Mamajonov I. Theoretical foundations of project financing in transition economies. Finance and Accounting Journal. 2023;5(1):22-35.
IMF Country Report. Uzbekistan: 2024 Article IV Consultation. International Monetary Fund; 2024.
Chen L, et al. Risk management in infrastructure investment: A global perspective. Journal of International Money and Finance. 2024;42:101-118.
