Vol. 2 No. 10 (2024): Economic Development and Analysis

Behavioral finance, which has recently entered the fields of finance and economics with a fresh perspective, challenges the traditional economic concepts of rational decision-making. This field emphasizes that to conduct more accurate analyses in economics, it is necessary to account for human psychological decisions, cognitive biases, and the role of emotions in decision-making. By considering the limitations of available opportunities and the diversity of choices, behavioral finance shows that we can gain more insights into market participants. These shifts can have a significant impact across various sectors and contribute to more precise decision-making at the national level, enhancing the financial well-being of the state and its citizens.

In this article, the issues of justifying the methodological aspects of the application of the IAS "Agriculture" in fisheries are covered. In particular, in relation to biological assets in fisheries, the rules for their recognition have been formulated based on the general rules of the IAS No. 41 "Agriculture"; directions for improving production cost accounting and product costing in fisheries in accordance with IAS No. 41 are indicated, and biological assets and products derived from them are categorized. Also, the use of international experience in the evaluation and accounting of fishery products made it possible to meet the requirements of the IAS and to integrate (harmonize) with the international community.

This article examines the stages of development of the food industry in our country, the role of food products in the national economy, their social and economic significance, as well as development prospects. The theoretical foundations of food industry development are explored through econometric analysis.

The article examines the organizational and economic mechanisms of improving the efficiency of services in the regions. The main focus is on cases of improving the quality and efficiency of services by modernizing the service sector based on new technologies in the context of innovative economic development.

Determining the separate stages of the organizational aspects for the preparation of consolidated financial statements and the formation of items related to the accounting policy are disclosed. Ways to make the reporting process more efficient and accurate by improving organizational mechanisms are considered. Also, it is proposed to strengthen the internal control systems and innovative approaches that can be used in this process. The results of the work serve to increase the financial transparency of joint-stock companies and strengthen their investment attractiveness.

In this article, the main directions of the development of FinTech strategies in commercial banks are presented on the example of banks operating in Uzbekistan. Among the main areas of FinTech strategies are digital payment systems, artificial intelligence (AI) and data analysis, blockchain, banking mobile applications, digital banks and FinTech startups. Also, the changes in banks as a result of their application were analyzed based on the data of the Central Bank of the Republic of Uzbekistan. In this, information about plastic cards in circulation in banks, payment terminals installed by banks, ATMs, infokiosks, bank applications, digital banks from 2001 to August 1, 2024 was presented and analyzed graphically.

The article provides an analysis of innovative technologies and human resource policies to improve service efficiency in telecommunications companies. It emphasizes the importance of implementing advanced technologies such as 5G, IoT, artificial intelligence, and cloud services in today’s competitive market. These technologies create opportunities for automating interactions with customers, ensuring rapid data exchange, and enhancing security. Furthermore, attracting employees with high qualifications and skills in modern technologies contributes to improving service quality.
The article also discusses the issues of building 5G networks, monitoring devices through IoT, optimizing service processes through artificial intelligence, and centralized data storage via cloud technologies. It presents recommendations for telecommunications companies to ensure high-quality services for customers and strengthen their competitiveness in the market.

When analyzing economic potential, it should also be borne in mind that the economic potential of enterprises depends not only on the size of available resources but also on the quality of these resources, the structure of the balance of components, and the rationality of use. Improving the quality composition of resources increases the existing potential, the effective use of which strengthens management decisions.

This article discusses the theoretical and methodological foundations of wage accounting in educational institutions. Proposals and recommendations have also been developed to improve payroll accounting in educational institutions.

Today, the most effective organization of mass production in all industries, in particular in textile enterprises. In market conditions, continuous production planning is advisable. Creation of new high-tech jobs, technical and technological renewal of enterprises, introduction of a progressive "cluster model" by ensuring high and sustainable growth rates of the textile industry in the country, attracting and mastering foreign direct investment, production and export of competitive products, implementation of strategically important modernization projects. Systematic work is being carried out to further deepen the structural reorganization aimed at In this article, the factors and methods of increasing the efficiency of investment flows into textile enterprises will be considered and analyzed.

This article examines the formation of local budgets as an important stage of the financial strategy. At the same time, an analysis of the formation of income and expenses of the local budget of the Jizzakh region for 2024 was carried out. Proposals were made to improve the efficiency of local government bodies in the formation of the local budget.

The problems and interests of people with disabilities have become an important part of the social and economic policies of various countries in the modern world. The aim of this study is to explore the concept of inclusive tourism and its potential benefits for people with disabilities who face numerous barriers in accessing infrastructure, services, and products. Inclusive tourism contributes to improving the quality of life of people with disabilities, their social and psychological adaptation, as well as rehabilitation. This type of tourism involves access to tourist services and products for all people without any restrictions. It is provided through an accessible environment that includes visual, auditory, cognitive, and mobility aspects.
The article addresses organizational issues related to providing tourist services to people with disabilities. The criteria of an accessible environment must consider convenience, safety, comfort, and sufficient information for people with disabilities.

This articlе еxaminеs thе challеngеs rеlatеd to thе еmploymеnt of young profеssionals in Uzbеkistan. Youth еmploymеnt is a crucial factor in еconomic dеvеlopmеnt, and thе articlе analyzеs thе еmеrging issuеs and proposеs solutions. Thе lack of alignmеnt bеtwееn thе еducation systеm and labor markеt dеmands makеs it difficult for young spеcialists to find jobs that match thеir qualifications. In 2023, еfforts arе plannеd to incrеasе youth еmploymеnt by еngaging thеm in companiеs, vocational collеgеs, and thе agricultural sеctor. Еxpanding opportunitiеs in fiеlds such as thе digital еconomy, frееlancing, and rеmotе work will improvе thе intеgration of young pеoplе into thе labor markеt.

This article examines and analyzes the rules for reflecting Murobaha operations in financial statements, the stages of implementation of Murobaha operations and the conditions for its implementation. The processes of recognition of Murobaha transactions based on two-way writing are analyzed and illustrated with the help of examples. Also, the role of Murobaha operations in sustainable economic development will be revealed.

In this article, we discuss how digital marketing is important to small businesses based on our survey. We will see factors that help small businesses increase their sales without spending a big amount of resources as businesses did. What are the privileges of digital marketing in the the technologies era and what are the difficulties of online marketing that small businesses face? According to statistics, we will see how methods like content marketing, social media, Facebook ads, and PPC influenced businesses in numbers. So, from this article, you can learn different digital marketing approaches, their importance, and how to overcome challenges.

This article presents a literature review of the experience of foreign scientists in improving the financial activities of state-owned enterprises. Official data and analyzes of the Ministry of Economy and Finance of the Republic of Uzbekistan are also provided. Based on this literature review and analysis, practical suggestions and recommendations are presented.

The article discusses the unique features of the innovative development of trade services for the population and the need for econometric modeling. There is no separation here to improve the organizational and economic mechanisms for the innovative development of the trade services sector or the general socio-economic patterns of the industry into types and groups, but the practical nature of the laws in force that give practical meaning to research, determine the priority and serve as a scientific criterion for evaluating results, highlight the consequences in the future , the importance of evaluating results.

It is important to consider the main participants of the tax system of Uzbekistan as taxpayers and tax payers, to improve the rights and obligations of taxpayers in the tax system, by widely introducing modern information and communication technologies and advanced automated analysis methods, and to expand the tax base. analysis and development of effective measures.

The article describes individual entrepreneurs and self-employed individuals. Procedural and practical recommendations were offered to increase the importance of taxation of individual incomes in the formation of budget revenues. In addition, a study was conducted on the current state of taxation of individual entrepreneurs and self-employed persons, studies of economists were studied within the scope of the topic, and conclusions and proposals were formed.

This article is devoted to the study of problems related to the operations of commercial banks in the securities market and ways to overcome them. Banks operate in the stock market in order to diversify their financial portfolio, manage risks and generate additional income. However, a number of problems arise in this process: factors such as lack of liquidity, market volatility, regulatory restrictions and information asymmetry can reduce the effectiveness of banking operations. To solve these problems, modern risk management methods, new rules adopted by regulatory authorities, the possibility of adapting to market conditions and using technological innovations are analyzed. The relevance of the topic is due to the importance of ensuring the financial stability of banks in conditions of volatility of global financial markets.

The role and importance of foreign investments in the development of the national economy and the increase in innovative activity are revealed in the article, the principles of investment attraction are considered and illuminated, and the role of investment in the country's export and import is also applied in the data analysis.

The article describes structural changes in the regional economy and their impact on economic development. The main objective of the study is to justify the need to study the features of the regional structure. The article reveals the content of various points of view on the term "structural changes".

This article discusses the content and importance of inventory in agricultural enterprises. The main stages, methods and rules for conducting inventory were also studied, proposals and recommendations were developed.

In this аrticlе, оn thе bаsis оf thе clustеr аpprоаch, аn аnаlуsis оf fаctоrs аffеcting thе dеvеlоpmеnt оf innоvаtivе аctivitу аnd cоmpеtitivеnеss оf thе sоciаl tоurism sеctоr, fеаturеs оf businеss еnvirоnmеnt аnd businеss cоnduct fоr its individuаl оrgаnizаtiоns аnd institutiоns frоm thе dеvеlоpmеnt оf thе sоciаl tоurist clustеr, rеductiоn оf оpеrаting cоsts, flехibilitу аnd cоmpеtitivеnеss in thе fоrmаtiоn аnd rеаlizаtiоn оf а tоurist prоduct, intеgrаtiоn intо thе tоurism clustеr wаs rеcоmmеndеd tо еntеrprisеs tо dеvеlоp аnd usе in prаcticе intеllеctuаl prоducts prоducеd bу еducаtiоnаl аnd sciеntific institutiоns within thе clustеr, tо аssеss thе cоmpеtitivеnеss оf clustеrs in vаriоus wауs, аnd а prоcеss-оriеntеd mоdеl оf thе clustеr's innоvаtivе аctivitу.

This study examines the impact of the relationship between bank assets and liabilities on bank profitability, highlighting the critical role of effective asset-liability management in financial performance. Banks generate income primarily through interest earned on assets such as loans and investments, while liabilities, including deposits and borrowings, represent the cost of funds. The balance between these two elements determines net interest income (NII) and net interest margin (NIM), both key indicators of profitability. Factors such as interest rate spreads, asset quality, maturity mismatches, and liquidity management significantly influence the bank’s profitability. A well-managed asset-liability mix enhances income stability and reduces risks associated with interest rate fluctuations and liquidity constraints. Conversely, poor management can lead to reduced margins, increased risk exposure, and potential financial instability. Understanding and optimizing the interplay between assets and liabilities is essential for banks to maximize profitability, manage risks, and sustain long-term growth in a competitive and regulated environment. From this point of view, in this article, I tried to reveal the importance of the net interest margin in increasing the profitability of the bank, as well as the state of management of bank assets and liabilities in the banking system of the Republic of Uzbekistan and its effect on the efficiency of the banking system.

The rise of social media has revolutionized tourism marketing, making influencers and social media figures key players in shaping travelers' perceptions of destinations. Platforms such as Instagram, YouTube, and TikTok have enabled influencers to act as digital ambassadors, promoting travel locations through curated, visually appealing content. This paper explores the influence of social media figures on shaping destination image and purchase intentions in the tourism sector, drawing on case studies from Iceland, Japan, Switzerland, and Qatar. It also examines the potential for Uzbekistan to enhance its tourism image through influencer marketing, offering insights from successful international strategies.

This article explores the impact of e-commerce on economic development across three categories of countries: developed, emerging markets, and developing countries. The analysis utilizes economic indicators, e-commerce adoption rates, and growth metrics to assess how these countries leverage e-commerce for economic advancement. The findings indicate that while developed countries enjoy advanced e-commerce infrastructures, emerging markets are rapidly catching up, and developing countries face challenges but show significant potential for growth.

The article analyzes the dynamics of Uzbekistan's exports of goods and services from 2010 to 2023. It assesses the diversification of both the commodity structure and the geographic distribution of exports using the export product concentration index and the export diversification index. Statistical analysis of trends in Uzbekistan's exports during this period highlights the urgent need to accelerate diversification in both the structure and geography of exports. It emphasizes increasing the share of finished goods with high added value in the export portfolio, as well as diversifying and expanding services exports and enhancing regional export activities. To achieve this faster export diversification, a comprehensive set of interrelated measures is required across various areas of economic policy. This includes improvements in trade, investment, and industrial policies, along with deeper institutional reforms.

This article focuses on examining the efficiency and economic benefits of managing public procurement for budget organizations in the Republic of Uzbekistan through electronic stores. The primary objectives of digitizing public procurement processes in Uzbekistan are to reduce corruption, ensure cost-effective use of budget funds, and increase transparency in the procurement process. The Law on Public Procurement (OʻRQ-684), adopted on April 22, 2021, and the Resolution on Measures for Improving the Public Procurement System and Promoting Small Business Participation (PQ-249), issued on July 10, 2024, have established new opportunities for conducting public procurements through electronic stores, marking significant steps toward economic efficiency. This article provides a detailed analysis of the impacts of using electronic stores in public procurement on Uzbekistanʼs economy, drawing comparisons with the experiences of countries like Indonesia, Kazakhstan, and Estonia. The study, based on public procurement outcomes via electronic stores from 2022 to 2024, reveals valuable insights into effective fund utilization and potential savings.

This article explores the importance of international regulations in ensuring sustainable development. The study analyzed quantitative indicators of climate change, including CO2 emissions. It focuses on the mechanisms of implementation of international regulatory documents in ensuring environmental stability. Also, the article pays special attention to the issue of implementing effective measures to ensure the Paris Agreement.

This article discusses the process of transforming accounting in trade enterprises from national standards to international standards. It outlines the stages, challenges, advantages, and current issues in transforming reports prepared under national standards into international standards, as well as the necessary tasks that need to be carried out.

This article highlights the significance of land and property taxes levied on individuals in the socio-economic development of mahallas in the Republic of Uzbekistan, as well as the processes related to the implementation of the newly introduced mahalla budget mechanism in practice. Additionally, recommendations have been developed for increasing the revenues of mahalla budgets through taxation, which are expected to play an important role in reducing economic inequality between mahallas, addressing social issues of the population, and solving problems related to regional infrastructure.

This article examines the importance of applying accounting policies in the activities of railway transport enterprises and develops proposals and recommendations.

In recent years, the financing of higher education has undergone significant transformations, influenced by shifting economic policies and the increasing demand for educational services. This article examines the evolution of financial planning in higher education institutions (HEIs) worldwide, highlighting the interplay between public and private funding sources. It explores various financing models adopted by countries, particularly focusing on the roles of government and private sector contributions. Comparative case studies from the United States, Germany, and the United Kingdom illustrate the diverse strategies employed to ensure access, quality, and sustainability in higher education. The article concludes with key lessons for HEIs aiming to navigate financial challenges and achieve long-term growth, emphasizing the importance of strategic financial planning, revenue diversification, and institutional autonomy.

This article highlights the necessity, opportunities and prospects for sustainable development of the digital economy in the region in the future.

This article analyzes the importance and benefits of automating audit processes within the context of the digital economy, with a focus on the role of digital approaches in automating depreciation calculations. By utilizing software code and algorithms, the study reveals opportunities for rapid and accurate data analysis, optimization of audit processes, efficient resource management, and enhanced transparency. This approach significantly reduces errors and increases the reliability of audit results.

in the article, the investment activity of the investment bank, investment assets, the approach of the investment bank to the investment activity, the invectation of the securities, and the investment protection of the investment bank are explained in the article.

The article examines and analyzes the requirements for youth work in the labor market in the context of a modern developing digital economy. The skills for acquiring new professions offered to young people in the regional and international labor market are studied, and scientific proposals are formulated.

In today's rapidly changing market environment, innovation is the key to success for any business or organization. Strategic management through innovation plays an important role in maintaining competitiveness and development of enterprises. This article discusses the role and importance of innovation in the strategic management system.

This article provides an in-depth analysis of effective strategies for attracting venture capital for technology startups. It focuses on essential aspects such as securing financial support for startups, assessing market potential, and creating a reliable business plan. Additionally, the article explores risk mitigation methods crucial for appealing to venture capital investors. The study also examines the role of venture capital and economic opportunities within Uzbekistan's context. These strategies are significant for ensuring the successful growth of new technology companies.

This article highlights the new business processes of modern housing management companies, as well as how modern housing management companies can achieve efficiency through the use of modern service systems. In conclusion, proposals for a new business process for modern housing management companies were developed.

The purpose of this study is to analyze ways of financing the country's economy based on public-private partnership (PPP), attracting investment and increasing exports. Public-private partnership serves to effectively ensure economic development through cooperation between the public and private sectors. The article examines the impact of PPP on economic growth, mechanisms for attracting investment in modern projects, as well as the necessary strategies for increasing export potential.

Competition from the informal sector, including digital platforms, presents a significant challenge for formal companies. In response to this pressure, formal firms may introduce innovations that provide them with a competitive advantage. Using a probit model, this study examines the relationship between informal competitive pressure and the innovation activities of formal firms, based on enterprise survey data conducted by the World Bank in Uzbekistan in 2019. The results indicate that informal competition increases the likelihood of innovative activity in formal companies by 7 percentage points, holding other variables at an average level. Additionally, holding international certifications and membership in trade organizations increase the likelihood of innovation by 13.9% and 14.5%, respectively. Although informal competition has a significant positive effect on the adoption of innovative products/services, it may also have other implications; therefore, policy recommendations should consider measures to reduce the level of informality in the economy.

The role of human capital as the main factor in the economic, social and political development of the state has constantly grown and continues to grow. After mankind has made the transition from the industrial to the post-industrial stage in its development, intellectual resources have become one of the key factors in the development and prosperity of society. The high proportion of human capital in the national wealth of developed countries explains the high level of their socio-economic development. This article examines the importance of investments in human capital for the effective functioning of the economy, as well as the political and social stability of society.

This article examines the ways in which organizations can develop through the formation of a competitive environment. The competitive environment is a key factor affecting the efficiency and sustainability of businesses in modern economic conditions. The author analyzes the main aspects of creating a competitive environment, including innovative approaches, strategic planning, and interaction with stakeholders. The article discusses examples of successful practices implemented in various industries that have helped improve the competitiveness of organizations. Additionally, it addresses the problems and challenges that enterprises face when trying to adapt to changing market conditions. Recommendations are provided for implementing effective strategies to foster a healthy competitive environment, which, in turn, contributes to the long-term development and success of organizations. The findings of this study may be useful for managers, specialists, and researchers in the fields of management and economics.

Currently, the reform and improvement of our country's continuous education system, the introduction of advanced pedagogical and information technologies, and the enhancement of education effectiveness have become state policy. Digital technologies and distance learning systems are rapidly developing, meeting modern requirements. In 2023, in leading countries such as the USA, European Union states, and South Korea, distance learning systems are widely used. In particular, in the USA, global educational platforms such as Coursera, edX, and Udemy provide educational services to more than 70 million users worldwide, holding leading positions. In the European Union, platforms like FutureLearn are also successfully operating. These platforms play a significant role in the convenience of education, time-saving, and improving the quality of knowledge.

This article describes the role and importance of the interregional tax inspectorate in improving large-scale reforms aimed at creating favorable conditions for doing business in the tax sphere in the country and further strengthening the confidence of the business community. At the same time, some important reforms implemented by the interregional tax inspectorate in the tax system of Uzbekistan were studied, and scientific and practical conclusions and proposals were developed based on foreign experience and its application in our country.

In the article, the information covered in the cash flow statement, the actual state of the reflection of items related to capital investments in the form of this report was studied, and recommendations were developed for the reflection of information on capital investments in the statement of cash flows. Also, international experiences reveal the issues of covering long-term assets such as investment property and biological assets in the cash flow statement.

The article considers the development of theoretical and methodological foundations for the formation of strategic management accounting and analysis at enterprises, as well as the improvement of methods of strategic management accounting, the organization of a system of strategic analysis of income and expenses in accordance with international standards when making effective management decisions.

This article analyzes the main directions for the development of passenger transportation activities in rail transport. It discusses statistical indicators of passenger transportation, income and expense dynamics during the period from 2014 to 2023, as well as detailed information regarding infrastructure costs.
The article includes statistical analyses of the number of passengers transported by rail and their turnover. It examines changes in passenger numbers, income growth, expense dynamics, and the losses incurred from passenger transportation. Based on this information, the aim is to identify the main problems in passenger transportation activities in rail transport and propose solutions.
The article recommends ways to improve passenger transportation activities through the implementation of modern technologies in the rail transport sector, enhancing staff qualifications, and improving services for passengers. Additionally, it provides information on infrastructure proposals for the development of passenger transportation and necessary strategic measures to ensure economic stability.
The results of the research are significant for developing effective strategies for the advancement of rail transport, facilitating rapid development of passenger transportation, increasing economic efficiency, and creating convenience for passengers.

This study examines the impact of the new securities income payment order, implemented in June 2024, on the liquidity of Uzbekistan’s securities market. By analyzing stock market activity data from the first half of 2024 and August 2024, the research evaluates the current market conditions and forecasts potential changes under the new regulatory framework. The paper focuses on key aspects of the new order, such as centralized payments through the Central Securities Depository and the involvement of investment intermediaries. The findings suggest that the new order may enhance liquidity by speeding up payments and reducing operational risks. However, there may be temporary operational delays during the initial phase, which could negatively impact market activity. The study also reviews existing research on the effects of regulatory changes on liquidity in both developed and emerging markets. Unlike previous research, this study emphasizes short-term changes following the introduction of the new order and considers the unique characteristics of Uzbekistan’s market. Practical recommendations are provided to optimize the payment system and further improve market liquidity.

This article defines the conditions for the formation of a system for the development of innovations in industrial enterprises: recruitment of qualified personnel, study of the latest developments, protection of one’s own inventions, patent purity of manufactured products, assessment of the value of intangible assets and test marketing. In addition, enterprises are expected to cooperate with other market participants, due to the need to obtain new ideas, knowledge and qualified specialists. Such cooperation can be implemented within the framework of the well-known chain “science - personnel - production”.

The article examines the relationship between the income levels of citizens and the development of human capital, as well as the standard of living of the population in the context of regional economic growth in Uzbekistan. The structure of income across different regions is analyzed, and the impact of income on access to education, healthcare, and other aspects of human capital is assessed. The study is based on data regarding wages and incomes in various economic sectors. The purpose of the article is to identify key factors influencing the improvement of the standard of living of the population and to develop recommendations for optimizing regional economic policy for sustainable development.

The article analyzes the situation in the labor market after studying the demographic situation in the regions of the Republic of Uzbekistan.

The efficiency of tax policy measures for 2024 and analysis of budget revenues performance for 9 months of 2024 are given in this article. Also, based on international experiences and analysis in this sphere scientific-practical conclusions and proposals were developed.

This аrticlе rеvеаls thе shаrе thаt industriеs cоntributе tо thе nаtiоnаl еcоnоmу оf thе sеctоrs оf thе cоuntrу's еcоnоmу аnd thе spеcific fеаturеs оf imprоving thе lеvеl оf cоmpеtitivеnеss оf industriаl prоducts, stаgеs оf implеmеntаtiоn оf trаnsfоrmаtiоn prоcеssеs оf industriаl еntеrprisеs аnd clаssificаtiоn оf аssеts оf industriаl еntеrprisеs, аssеssmеnt оf thе innоvаtivе pоtеntiаl оf industriаl еntеrprisеs аccоrding tо еcоnоmic аnd finаnciаl rеsults, sciеntific аnd prаcticаl rеcоmmеndаtiоns.

This research explores the state regulation of foreign direct investment in Uzbekistan, emphasizing its regional characteristics and the interplay between national and local policies. It examines how the concentration of FDI in regions like Tashkent, Navoi, and Fergana Valley contrasts with the underinvestment in areas such as Karakalpakstan and Surkhandarya. Recommendations for enhancing policy alignment and improving investment conditions are provided to promote balanced economic development across the country.

This article provides an analysis of national and international experiences in the development of the creative economy, highlighting its importance in enhancing the country’s export potential and the well-being of its citizens. It examines legal, organizational, and practical measures implemented in various countries worldwide and offers recommendations for the further improvement of government activities in this emerging sector.

In this article, the best practices of stock markets in developed and developing countries and directions of their development are researched. In particular, in the development of stock markets, the best practices of the effective placement of state securities of foreign countries and the development of the stock market through them have been studied.

In this article, the current problems in the recognition of cash assets and equivalents, their definition in accordance with international standards are noted. An author's definition of funds has been developed. On the basis of foreign experiences, proposals were developed to improve the composition of cash and cash equivalents. Today, the main directions for improving the cash account were proposed.

The article describes the stages of the organization and development of audits in the Republic of Uzbekistan, the features of the organization of audits in the public sector, and the theoretical issues of applying international audit standards in practice.

This article discusses the methodology of organizing and forming an agricultural insurance system, as well as the implementation, experience, and effectiveness of this task in foreign countries