RIVOJLANAYOTGAN MAMLAKATLARDA XALQARO KAPITAL OQIMLARINING IQTISODIY O‘SISHGA TA’SIRI
Keywords:
toʻgʻridan-toʻgʻri xorijiy investitsiyalar, portfel investitsiyalari, xalqaro kapital oqimlari, iqtisodiy oʻsish, yalpi ichki mahsulot, institutsional sifat, chegaraviy effekt, absorbtiv salohiyat, GMM, panel maʼlumotlari.Abstract
Maqolada moliyaviy globallashuv sharoitida xalqaro kapital oqimlari – toʻgʻridan-toʻgʻri xorijiy investitsiyalar (TTXI) va portfel investitsiyalarining – rivojlanayotgan mamlakatlar iqtisodiy oʻsishiga taʼsir koʻrsatish mexanizmlari nazariy va empirik jihatdan tahlil qilingan. Tadqiqotda 2010-2025-yillar oraligʻidagi rivojlanayotgan mamlakatlar boʻyicha panel maʼlumotlari asosida momentlarning umumlashtirilgan usuli (Generalized Method of Moments, GMM) yordamida dinamik panel model baholangan. Olingan natijalar TTXI uzoq muddatli iqtisodiy oʻsishga ijobiy va barqaror hissa qoʻshishini, portfel investitsiyalari esa asosan qisqa muddatli moliyaviy taʼsir koʻrsatib, yuqori oʻzgaruvchanlik bilan tavsiflanishini koʻrsatadi. Shuningdek, xorijiy kapitalning iqtisodiy oʻsishga ijobiy taʼsiri mamlakatdagi institutsional sifat va inson kapitalining maʼlum bir chegaraviy darajasiga bogʻliq ekanligi aniqlangan. Tadqiqot xulosalari asosida Oʻzbekiston va boshqa rivojlanayotgan mamlakatlar uchun iqtisodiy siyosatga oid amaliy tavsiyalar ishlab chiqilgan.
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