MUTATIONAL TRANSFORMATION OF THE FINANCIAL AND REAL SECTORS IN THE REPUBLIC OF UZBEKISTAN: INSTITUTIONAL ASYMMETRY AND DEVELOPMENT CHALLENGES

Authors

  • Teshabayev Nodir Shuxratovich Toshkent davlat iqtisodiyot universiteti, mustaqil izlanuvchi, PhD

DOI:

https://doi.org/10.55640/

Keywords:

financial sector, real sector, institutional mutation, structural imbalance, credit allocation, Uzbekistan.

Abstract

The sustainable interaction between the financial sector and the real sector is a critical prerequisite for long-term economic growth. In recent years, the Republic of Uzbekistan has experienced accelerated financial sector expansion alongside structural transformations in the real sector. This paper investigates the mutational transformation of financial–real sector relations, characterized by growing institutional asymmetry and functional divergence. Using an institutional and systemic analytical framework, the study identifies key mutation mechanisms, evaluates their economic implications, and proposes policy-oriented recommendations aimed at restoring functional balance and enhancing productive efficiency.

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References

Arcand, J. L., Berkes, E., & Panizza, U. (2015). Too much finance? Journal of Economic Growth, 20(2), 105–148.

Cecchetti, S. G., & Kharroubi, E. (2012). Reassessing the impact of finance on growth. BIS Working Papers.

McKinnon, R. I. (1973). Money and capital in economic development. Brookings Institution.

North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge University Press.

Schumpeter, J. A. (1911). The theory of economic development. Harvard University Press.

Stiglitz, J. E. (2010). Risk and global economic architecture. American Economic Review.

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Published

2026-01-08

Issue

Vol. 5 No. 01 (2026): Journal of Multidisciplinary Sciences and Innovations

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.

How to Cite

MUTATIONAL TRANSFORMATION OF THE FINANCIAL AND REAL SECTORS IN THE REPUBLIC OF UZBEKISTAN: INSTITUTIONAL ASYMMETRY AND DEVELOPMENT CHALLENGES. (2026). Journal of Multidisciplinary Sciences and Innovations, 5(01), 275-277. https://doi.org/10.55640/

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