THE ROLE OF GOVERNMENT AND INSTRUMENTS IN THE DEVELOPMENT OF THE LOCAL CAPITAL MARKET
Keywords:
capital market, government regulation, investment instruments, financial infrastructure, securities.Abstract
This article examines the role of the local capital market in economic development and analyzes the regulatory functions of the government and the application of financial instruments. The study focuses on institutional reforms, improvement of the legal framework, protection of investor rights, ensuring market liquidity, and the introduction of modern financial instruments. In addition, current challenges in the development of the capital market in Uzbekistan and practical recommendations for addressing them are presented.
References
1. Law of the Republic of Uzbekistan “On the Securities Market”.
2. Annual reports of the Capital Market Development Agency of Uzbekistan.
3. Mishkin, F. Financial Markets and Institutions.
4. Saunders, A., Cornett, M. Financial Markets and Institutions.
5. Decrees and resolutions of the President of the Republic of Uzbekistan (2017–2024).
6. World Bank – Capital Market Development Reports.
7. International Monetary Fund (IMF) – Financial Stability Review Reports.
