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SPECIFIC FEATURES OF INNOVATIVE ACTIVITY IN THE ECONOMY
Kholmirzayeva Gulrukh
Samarkand Institute of Economics and Service
Assistant of the “Department of Investment and Innovations”
Narzikulov Og’abek
Student of the Samarkand Institute of Economics and Service
Abstract:
This article analyzes the essence of innovative activity in the economy, its stages of
development and specific features. It considers the role of innovative activity in modern
economic development, its importance in the development and introduction of new technologies,
as well as its role in increasing competitiveness. The article also analyzes the factors affecting
the state support of innovative processes, the active participation of business entities and the
formation of an innovative environment. Proposals and recommendations are presented to
accelerate innovative activity in the economy of Uzbekistan.
Keywords:
innovative activity, economic development, technological innovation,
competitiveness, innovative environment, scientific and technical progress, state support,
economic efficiency.
Introduction
The modern development of the economy is associated with reliance on innovative activity,
which plays an important role in increasing the competitiveness of countries, strengthening their
role and status in the global economic arena. Innovative activity is carried out through the
development of new knowledge, technologies, products and services, modernization of
production processes, as well as the integration of advanced technological approaches into the
economy. At the same time, the transition to such a model of economic development plays an
important role in the effective use of large-scale resources and increasing the competitiveness of
the economic system.
Today, supporting and developing innovative activity is necessary to ensure the country's
economic stability and increase its competitiveness in the world market. Uzbekistan, in order to
modernize and diversify its economic system, attaches great importance to the development of
innovative activity. In this regard, the innovative environment created by the state, measures
taken to support scientific and technical achievements and activate the participation of business
entities in innovative processes play an important role.
This article is devoted to the analysis of the specific features of innovative activity in the
economy. It considers the main principles and types of innovative activity, the interaction
between the state and business entities, as well as strategic recommendations aimed at
developing innovative activity.
Literature review
The number of scientific literature on the role of innovative activity in the economy and its
development directions is increasing from year to year. The role of innovation in economic
growth, its importance in increasing its efficiency and creating new market opportunities has
been studied in depth by world scientists.
For example, Joseph Schumpeter, evaluating innovation as the main driving force of economic
development, put forward the theory of "creative disruption". According to him, new products
and technologies displace old systems, opening the way for economic growth and competition.
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M. Porter, in his theory of competitive advantage, identifies innovation as the main factor
determining the efficiency of national economic systems. In his opinion, companies can achieve
superiority only through innovative activity.
Uzbek scientists have also been intensifying research on the innovative economy in recent years.
In particular, I. Umurzakov, Sh. The works of Ganiyev, Kh. Abdurakhmonov and other
economists cover the issues of forming an innovative environment, effective use of scientific and
technical potential, and the impact of digital transformation on the economy.
Also, important directions for stimulating innovative activity and implementing the results of
scientific research into practice are outlined in state programs, presidential decrees and strategic
documents adopted in the republic.
An analysis of the literature shows that the effectiveness of innovative activity largely depends
on the consistency of state policy, cooperation between scientific institutions and manufacturers,
and the level of assimilation of international experience.
Methodology
This scientific research aims to deeply study the specific features of innovative activity in the
economy and analyze them in a practical way. Analytical, comparative, statistical, inductive-
deductive and systematic approaches were chosen as the methodological basis of the research.
First of all, existing theoretical views on innovative activity were studied and their impact on
economic development was analyzed. Then, the role of innovative activity in the experience of
different countries, in particular developed countries, the conditions for its formation and
efficiency factors were compared with the economic system of Uzbekistan.
During the research, economic indicators were analyzed based on official statistical data and
reliable sources, and the impact of innovative activity indicators on economic growth was
substantiated through numbers. At the same time, scientific conclusions were developed by
drawing specific conclusions from general scientific theories (deductive) and forming
generalizations based on real situations and examples (inductive). Innovative activity was
considered as an important component of the economic system, its interconnection with other
sectors and systemic impact were identified.
Also, during the research process, decrees, resolutions of the President of the Republic of
Uzbekistan, strategic programs, regulatory and legal acts, national and international scientific
articles, conference materials, as well as data from the State Statistics Committee were widely
used. Through these approaches, scientifically based recommendations were developed for
determining the economic efficiency of innovative activity and its development.
Analysis and results
Innovative activity is an important tool for modernizing the economy, producing competitive
products and creating high added value. During the study, the role of innovative activity in the
economy, its structural elements and development factors were comprehensively analyzed.
Initially, it was found on the basis of international experience that countries with an economic
model based on innovation have a high level of funds allocated for research and development as
a part of the gross domestic product, and their economic growth is stable and long-term. For
example, the experience of the USA, Germany, South Korea and Japan shows that competitive
advantage is created by supporting innovative activity. In Uzbekistan, innovative development
has also become one of the priority areas of state policy in recent years. The adoption of the
Innovation Development Agency, Technoparks, youth startup projects, grant-based programs,
and the “Innovative Development Strategy” are evidence of positive developments in this area.
However, the analysis shows that, despite the existing opportunities, the share of innovative
activity in the economy still remains low. The main problems include the disconnect between
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science and production, the weak activity of the private sector, the underdevelopment of the
intellectual property market, and the insufficient formation of the innovation infrastructure.
According to statistics, the funds allocated for research and development in Uzbekistan are 0.2–
0.3 percent of GDP, which is significantly lower than world standards. In addition, the share of
innovative products in the total volume of production is still insufficient. Therefore, in order to
increase economic efficiency, it is necessary to modernize production based on innovative
approaches, switch to the production of high-tech products, and ensure the integration of science
and production.
The results of the study show that the following areas are important for the successful
development of innovation in the economy: first, increasing the volume of state funding for
scientific research; second, encouraging the involvement of the private sector in innovation
projects; thirdly, to establish a system of innovative cooperation between higher education
institutions and industrial enterprises; fourthly, to develop innovative infrastructure through the
introduction of digital technologies.
Thus, identifying the specific features of innovative activity in the economy, analyzing existing
problems and developing practical recommendations for their elimination are one of the main
factors for Uzbekistan to have a competitive and sustainable economy.
Conclusion
Research shows that innovation is one of the most important components of the modern
economy, which plays a decisive role in increasing production efficiency, rational use of
resources and ensuring the competitiveness of the national economy. World experience proves
that countries that consistently use innovations achieve stable and high economic growth.
In Uzbekistan, a legal and regulatory framework for the development of innovation has been
formed, and a number of infrastructure projects are being implemented. However, there are still
problems in this area that are waiting to be solved: the disconnect between scientific research and
production, the slow development of the innovation environment, the passive participation of the
private sector, and insufficient human resources.
Based on the analysis presented in the article, the following main conclusions can be drawn:
— For the effective development of innovation in the economy, it is necessary to strengthen
cooperation between the state and the private sector;
— It is necessary to increase the amount of funds allocated for scientific research and direct their
results to commercialization;
— It is necessary to create a basis for the production of innovative products by ensuring
integration between science, education and production;
— The formation of an innovative ecosystem based on digital technologies, startups and
technoparks should be considered an urgent task.
Based on the above, it is possible to bring the economy of Uzbekistan to a qualitatively new level
through the comprehensive development of innovative activities. This will serve as an important
factor in strengthening the country's position in the global economic arena.
References:
1. Resolution of the President of the Republic of Uzbekistan dated August 24, 2023 No. PQ–283
“On measures to implement the innovative development strategy”.
2. Agency for Innovative Development of the Republic of Uzbekistan (2023). Statistical analysis
of the state of innovative development in Uzbekistan. Tashkent.
3. Abdurakhmonov, H. (2024). “Development trends and priority areas of the innovative
economy”. Journal of Scientific Research, No. 2(18), 28–34.
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4. G‘iyev, S. & To‘htayev, R. (2024). “Innovative activity and mechanisms for its stimulation”.
Economics and Management, No. 1(41), 15–21.
5. Karimova, M. (2024). “The role of state policy in the development of technoparks and
startups”. Journal of Innovations of Uzbekistan, No. 3, 44–50.
6. World Bank (2024). Innovation for Development in Central Asia: Policy Approaches and Best
Practices. Washington D.C.
7. OECD (2023). Science, Technology and Innovation Outlook 2023: Navigating Global
Challenges. OECD Publishing. https://doi.org/10.1787/sti-outlook-2023-en
8. UNCTAD (2023). Technology and Innovation Report 2023: Opening Green Windows –
Technological Opportunities for a Low-Carbon World. United Nations.
9. Center for Economic Research and Reforms under the Statistics Agency (2024). Efficiency of
Innovation Activities in Uzbekistan: Problems and Solutions. Tashkent.
10.
Hasanov, B. (2024). “The Impact of Young Entrepreneurship and Innovative Initiatives
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