PhD, Senior researcher – applicant, Institute of Forecasting and Macroeconomic Research, Uzbekistan. Email id: ulugbekma@rambler.ru
Online published on 11 October, 2017.
The article gives a detailed analysis of the level of economic growth in Uzbekistan. The paper is devoted to study the factors, impacting sustainable economic growth and justification of their role in improving the efficiency of the national economy. Recommendations are drawn on the basic directions of development of the national economy to ensure long-term sustainable economic growth. In Uzbekistan, the efficiency of economic growth can be achieved, firstly by increasing the amount of capital in accordance with changes in the labor force, and secondly - raising the possibility of efficient use of natural resources. Thus, the share of investment in economic growth factors more closely related to capital productivity (efficiency factor of the investment), rather than its level (the amount of the investment factor). To increase its involvement in the need to stimulate the economy, foreign direct investment, improve the legal framework to develop measures for further development of a favorable investment climate. The study of efficiency factors of economic growth, taking into account the quantitative and qualitative indicators, found that improving their efficiency related to the level of employment, increase in the volume of capital, increasing the share of savings, efficiency of resource allocation. They, in turn, increase the qualitative characteristics of the index, which expresses the efficiency factors of economic growth in the country, such as the efficiency of labor on capital, capital intensity (coefficient ICOR), consumption of materials and energy intensity of the real economy, the volume of exports, and the competitiveness of production. In addition, the increase in growth factors is also associated with the development of stable political, social and ecological systems
Gross domestic product (GDP), economic growth, labor, capital, savings, effectiveness, capital intensity of economic growth (ICOR)