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Assessment of the Impact of External Debt on Economic Growth: The Case of the Republic of Uzbekistan

In: The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution

Author

Listed:
  • Aktam U. Burkhanov
  • Bunyod Usmonov
  • Bobir Tashbaev
  • Lazizbek B. Botirov
  • Abror B. Abdullayev

Abstract

This research investigates the scientific-theoretical aspects of public debt management. Factors affecting the country’s external debt have been identified. The authors proposed developing a state debt management policy to attract foreign debts to the country. The authors present their conclusions regarding four hypotheses and three approaches. The evaluation begins by assessing the effect of external debt using the standard growth model. Based on these assessment results, the authors established the limit for the ratio of external debt to GDP for Uzbekistan. Proposals aimed at effective public debt management have also been developed to create the mechanism for effective management of state debts. As a result of the calculations, the authors found that the limit of the ratio of foreign debt to GDP for Uzbekistan is 35% in the situation where the current indicators are accepted as unchanged. If the influencing variables change over time, the overall result will change accordingly.

Suggested Citation

  • Aktam U. Burkhanov & Bunyod Usmonov & Bobir Tashbaev & Lazizbek B. Botirov & Abror B. Abdullayev, 2026. "Assessment of the Impact of External Debt on Economic Growth: The Case of the Republic of Uzbekistan," World Scientific Book Chapters, in: Elena Popkova & Gulnora Abdurakhmanova (ed.), The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution, chapter 9, pages 97-106, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789819802920_0009
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    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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