Year: 2024
Type: article
Abstract: This article examines the phenomenon of economic development in Uzbekistan in recent years: increased activity of international financial organizations in the republic has ensured high rates of economic growth due to liberalization of the country’s external sector, but has not made this growth more inclusive and sustainable. The example of Uzbekistan shows that the influence of the World Bank on the economic policy of developing countries is limited. It increases when their governments turn to international organizations for loan financing while experiencing shortages of domestic financial resources to stimulate economic growth. The World Bank can insist on reforms to increase the integration of their economies into the global economy and on transforming some particular sectors. However, structural transformation of the economy is possible only if the appropriate policy is followed by the government.
Source: Obshchestvo i ekonomika
Author: Yekaterina Romanchuk
Institution: Institute of Economics
Language: English
Subfield: Development
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4405735225