No. 1 (2025) Economic Development and Analysis

The purpose of this article is to study the economic role of intellectual capital and the characteristics of its reproduction mechanism and inclusion in economic circulation. It is emphasized that understanding the patterns of the process of intellectual capital inclusion and creating the necessary conditions for this are currently the most topical problems of economic theory and practice. The article studies the economic role of intellectual capital and the features of its reproduction mechanism and inclusion in the economic circulation using the comparative method as a research method.

The article analyzes the economic significance of the Islamic capital market ecosystem and its role in the modern financial system. It examines the development of financial instruments such as sukuk, Islamic stocks, and ETFs, as well as the role of Shariah boards and international institutions in fostering an atmosphere of trust. The research highlights the necessity of introducing innovative financial products and fostering international cooperation for the sustainable development of Islamic capital markets. This market plays a crucial role in the global economy by facilitating investment, fairness, and stability.

The article studies the views of leading world scientists on problems and solutions in agricultural financing, describes existing problems and solutions in agricultural financing, analyzes the problems and solutions in agricultural financing in the top 7 most developed agricultural countries, and provides substantiated conclusions and proposals for solving problems in agricultural financing in our country.

This article explores the problems associated with the activities of risk-sharing financing models, primarily, in terms of Islamic financial instruments. It lists the disadvantages of risk-shifting mechanisms and the achievements of risk-sharing financing. Simultaneously, it discusses the main causes of problems with risk-sharing financing and strategies to eliminate them. It analyzes the problems connected with information asymmetry, moral hazard, adverse selection, principle-agent relations, and incentive structures.

In this article, the issues of developing the audit system of the Republic of Uzbekistan on the basis of international experience are widely studied. The study analyzed the international practice of regulating audit activities, including the experience of the United States, United Kingdom, Germany and Japan. Scientifically based recommendations have been developed to introduce international audit standards, improve auditors’ skills and improve audit quality control mechanisms. The article analyzes the current state, achievements and shortcomings of the audit system of Uzbekistan and sets out directions for its adaptation to international standards. Conclusions have been formulated to ensure the competitiveness of the national audit system by introducing modern mechanisms for regulating audit activities, increasing personnel capacity and strengthening quality control.

This article examines the processes of integration of traditional and Islamic banking activities, their impact on the global financial market, and the opportunities and challenges in this area. The study analyzes the economic efficiency of the creation of “Islamic windows” within traditional banks, their role in ensuring financial stability, and the possibilities of diversifying the financial market. It also highlights the importance of this integration in the stability of the banking system in developing countries and attracting foreign investment based on empirical and theoretical approaches. The article reveals the prospects for international financial cooperation and strengthening the position of Islamic finance in the global financial market.

The methods of management, technological innovations, efficient use of resources and digital transformation used in modern international practice were studied, and their application for local enterprises was assessed. The study analyzed the successful experiences of the oil and gas enterprises of the USA, Norway, Russia and other advanced countries, and highlighted the factors that had a positive impact on their economic efficiency. The results of the article will serve to develop strategies aimed at increasing efficiency at oil and gas enterprises of Uzbekistan.

Ensuring the sustainable development of industrial enterprises in the face of strong competition should include not only the achievement of high economic results, but also the solution of environmental problems through the use of available resources to achieve it. Therefore, this article examines the issue of improving the mechanisms to ensure the sustainable development of textile enterprises on the basis of a flexible management system.

The article discusses the risks faced by commercial banks in their daily activities, which can negatively affect the financial condition and stability of banks. Banks face several types of risks in their activities. For this purpose, financial, operational, strategic, reputational, legal, international, natural disaster and environmental risks, medical and health, security, cost, technological risks are studied, and the requirements developed by the Basel Committee for studying the risks of banks are also studied.

In our country, a youth policy has been developed for the younger generation, especially for them to take their place in society, and this policy has been strengthened by a legal basis and is enshrined in our main document, the Constitution of the Republic of Uzbekistan and a number of regulatory documents, as well as a statement of research aimed at ensuring profitability in increasing population entrepreneurship.

Scientific proposals and practical recommendations are given, paying attention to issues such as the current situation and solutions observed in the population, the scientific potential of the population, the situation in education, assistance to the population with poor social status, providing them with modern education in achieving a level of spiritual maturity, and especially providing them with employment.

The article develops recommendations on the application of the proposals and recommendations on the role of banks in increasing population entrepreneurship in the process of compiling reports of JSCB "Mikrokreditbank".

Internship programs are increasingly recognized as strategic tools for enhancing organizational performance and addressing skill gaps in Small and Medium-Sized Enterprises (SMEs). This research explores the multifaceted impacts of internships on SMEs, including productivity, innovation, and employee retention. The study employs a mixed-methods approach, integrating quantitative data from SME performance metrics and qualitative insights from interviews with SME managers and interns. Results indicate that structured internship programs positively influence SME growth and competitiveness while offering potential challenges that require mitigation.

The article presents the main areas of use of digital business in the digital economy and medical services marketing. The article is devoted to the trends in the digital economy, medical services marketing, in order to improve the quality of medical services by ensuring competition in the healthcare system, in particular, the medical services market, and presents methods that can be used to conduct an analysis of each trend

This article analyzes the changes in logistics in the production system and its place and importance for the country's economy, prospects, problems, possibilities of logistics on an international scale, scientific, theoretical and practical views of foreign scientists on this topic. The conclusions and suggestions concerning the problems of the logistics system in the economy of Uzbekistan are presented

For many companies, goodwill is the most significant asset, for which such concepts as identifiability and isolation are not typical. Goodwill simplifies asset manipulation, but at the same time, neither many accountants nor the management of these companies know how to accurately and correctly evaluate goodwill, since its real value is formed when the organization is sold. But goodwill evaluation is necessary, and goodwill can be evaluated in various ways. The article considers the main methods of goodwill evaluation, suggests ways to improve them and develops its own method for evaluating goodwill.

This article is devoted to the analysis of the growth of the use of information and communication technologies (ICT) services, its impact on various sectors of the economy, and the new opportunities and problems it creates. The study examines the effectiveness of using ICT services and their impact on economic growth, as well as important aspects such as economic inequality and cyber security.

The article examines key methods for asset valuation based on international standards and ratings. Methods such as fair value, net present value, and multipliers are analyzed, along with rating agency methodologies. The importance of international experience and the benefits of using modern technologies in asset valuation are highlighted

Thе articlе is dеvotеd to thе pеculiaritiеs of consumеr bеhavior managеmеnt basеd on digital tеchnologiеs. The article discusses the strategies of advertising and promoting products or services using digital marketing tools in modern business, as well as the effectiveness of information about products and services reaching consumers through digital platforms.

The article discusses the development of a commercial risk management concept aimed at a holistic presentation of scientific hypotheses and ideas, patterns, goals and objectives, principles and functions of management, theoretical and methodological issues related to management methods and methodology for developing risk management strategies in modern enterprises. Based on the proposed risk management concept, a conceptual model is proposed that makes it possible to philosophically and conceptually comprehend the essence of risk management based on the basic rules of modern concepts of commercial, commercial management, strategic management and risk management, clarify possible sources of commercial risks, clarify the interrelation of a complex of scientific knowledge on risk management.

This article analyzes the level of development of Uzbekistan's securities market, as well as existing problems and shortcomings. The study examines the current state of the stock market, the activities of government and private sector securities, and their economic efficiency. Key issues identified include the low liquidity of the securities market, the limited range of investment instruments, weak integration into international financial markets, and a lack of financial literacy. Additionally, the article explores factors such as the underdevelopment of capital market infrastructure, information asymmetry, and the limited opportunities for Islamic finance.

This article examines the role and significance of the exchange rate in ensuring macroeconomic stability in Uzbekistan. The focus is on the economic consequences arising from changes in the national currency’s exchange rate, particularly on inflation levels, the balance of foreign trade, and economic growth. The study analyzes the Central Bank's currency policy, methods of managing foreign exchange reserves in the national economy, and factors affecting external economic activities. The article reviews the volatility of the exchange rate and its impact on economic stability based on international experiences, offering effective mechanisms that can be applied in the context of Uzbekistan. This article holds theoretical and practical significance for specialists, researchers, and public administration representatives dealing with currency policy and macroeconomic stability.

The tourism industry in the Russian Federation represents a significant sector, contributing to the nation’s GDP and employment while showcasing its cultural and geographical diversity. In the face of ongoing global transformations, the industry must navigate various challenges, such as economic instability, fluctuating consumer preferences, and the advent of advanced technologies. This article explores how Russian tourism enterprises can cultivate technological leadership through the adoption of artificial intelligence (AI) and big data analytics, how the industry can adapt to structural changes via digitalization, and how state policies influence the development of smart tourism. By analyzing successful case studies and illustrating the role of government initiatives, this study underscores the critical importance of innovation in steering the future of Russia’s tourism sector.

Improving the efficiency of resource use in the enterprises of the oil and gas industry is today one of the priorities for ensuring economic and environmental stability. This scientific study analyzes advanced technologies aimed at saving resources, automating production processes, improving energy efficiency and ensuring environmental sustainability in industrial enterprises. On the basis of world experience, strategic approaches to the effective use of resources are studied, the effectiveness of which is assessed economically and technologically. At the same time, the existing problems at the enterprises of the oil and gas industry of our country are analyzed and proposals and recommendations for their elimination are developed.

Women play a pivotal role in reshaping Human Resource Management (HRM) practices, contributing to diversity, innovation, and inclusive work environments. This research explores the transformative impact of women in HRM, focusing on their leadership styles, the barriers they face, and their contributions to organizational success. Through a mixed-methods approach, including surveys, interviews, and case studies, this study highlights the unique strategies employed by women in HR and the resulting implications for HR policies and practices. The findings underline the need for systemic support to overcome gender biases and amplify women’s influence in HRM.v

This paper examines the trade dynamics of landlocked Central Asia, with a particular focus on Uzbekistan. The geographical disadvantages of Uzbekistan, a double-landlocked country, significantly impede its trade competitiveness due to high transportation costs and prolonged transit times. Historically dependent on exports of commodities such as cotton, gold, and natural gas, Uzbekistan’s economy remains vulnerable to global market fluctuations. To mitigate these challenges and enhance its trade potential, the study underscores the necessity of diversifying into value-added sectors and improving trade logistics infrastructure. By employing the gravity model of trade, the paper evaluates the impact of trade facilitation measures on bilateral trade volumes within the Central Asian region. The findings highlight the critical role of infrastructure development, customs modernization, and regional cooperation in bolstering Uzbekistan’s trade efficiency. The analysis reveals that countries with advanced trade facilitation measures engage in higher trade volumes with Uzbekistan, suggesting that strategic investments in transport infrastructure and regulatory reforms are pivotal. These efforts are essential for integrating Uzbekistan more effectively into global markets and fostering economic growth within the region.

This article examines the importance of good corporate governance in increasing the capital value of Uzbek joint-stock companies. The article examines approaches to developing an effective management methodology in joint-stock companies based on agency theory, stakeholder theory, and resource dependency theories. The study analyzes the increase in capital value through modern financial indicators, including ROI (return on investment), EVA (economic value added), and ROE (return on equity). The theoretical and practical approaches presented in the article conclude with recommendations aimed at improving the management systems of joint-stock companies in the conditions of Uzbekistan and increasing their market value.