Open AccessThe impact of the development of manufacturing on economic growth: the experience of Uzbekistan
Author(s) -
Dilafruz Mukhsimova
Publication year - 2020
Publication title -
ekonomìka ì prognozuvannâ
Language(s) - English
Resource type - Journals
eISSN - 2518-7449
pISSN - 1605-7988
DOI - 10.15407/eip2020.04.137
Subject(s) - diversification (marketing strategy) , openness to experience , economics , per capita , economic expansion , developing country , gross domestic product , economic indicator , sustainable growth rate , human capital , regression analysis , sustainable development , business , economic growth , macroeconomics , psychology , social psychology , population , demography , finance , marketing , machine learning , sociology , computer science , political science , law
The article is devoted to the assessment of the impact of the development of manufacturing on economic growth in developing countries, in particular, the Republic of Uzbekistan. Conclusions for Uzbekistan take into account the peculiarities of the implementation of the Program for Localization of the Production of Finished Products, Components and Materials. To perform the estimates, a regression model was constructed to determine the impact of the factors of sustainable economic growth on per capita GDP (in US dollars of 2010), which indicator is used in the model as a dependent variable characterizing sustainable development. Factors of economic growth are substantiated with the use of well-known theoretical approaches and empirical data. The article presents a cross-country analysis of economic growth indicators in developing countries, which allowed to form a sufficient sample of data for estimates. The article evaluates the impact of the diversification factor on economic growth indicators, analyzes the relationship between the indicators of processing industry development and economic growth. The connection between the volatility of economic growth and the development of the processing industry is demonstrated, as well as a comparative analysis of different types of economic diversification in the developing countries selected for this study. Using correlation and regression analysis, the impact on economic growth of such factors as R&D expenditures, human capital, trade openness, the share of manufacturing in GDP, and employment in industry was analyzed in detail. Based on the author's study of the impact of these factors on economic development, the recommendations have been developed for developing countries, including Uzbekistan.