THE ROLE OF INNOVATION IN ECONOMIC DEVELOPMENT: EVIDENCE FROM UZBEKISTAN
Keywords:
Development economics, innovation, economic growth, technology, Uzbekistan economy.Abstract
Innovation is an important factor in economic development, productivity growth, and competitiveness. This bachelor’s thesis studies the role of innovation in the economic development of Uzbekistan, a transition economy that is implementing structural reforms. Using secondary data from national and international sources, the research examines the relationship between innovation indicators such as R&D expenditure, technology adoption, and human capital, and economic growth. The results show that innovation has a positive effect on economic development by increasing productivity and supporting economic diversification. However, limited investment in R&D and institutional problems reduce the overall impact of innovation. The study emphasizes the need for strong innovation policies to achieve sustainable economic development.
References
• Resolutions of the President of the Republic of Uzbekistan for 2017, 2018, 2020 and 2021.
• Schumpeter, J. A. (1934). The Theory of Economic Development. Harvard University Press.
• Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy.
• World Bank. (2022). Uzbekistan Economic Update.
• Ministry of Innovative Development of Uzbekistan. (2021). Innovation Strategy of Uzbekistan.
