Senior Researcher, Institute of Forecasting and Macro Economic Research, Republic of Uzbekistan
Online published on 31 March, 2016.
This paper is devoted to clarify theoretical foundations and aspects of such concepts as economic growth, its efficiency and quality. On the basis of economic growth is possible to determine the country's development and the standard of living to population. Here we analyze the quality and efficiency of economic growth which started in the early 1996 and lasts up to. A set of different methodological approaches, such as macroeconomic analysis, synthesis and multifactor regressions is used to perform qualitative and quantitative analysis of economic growth in Uzbekistan. The study revealed that continuation of sustainable economic growth requires to pay special attention to its quality and efficiency by increasing the productivity of capital and labor factors and widespread introduction of innovations. Recommendations are drawn to ensure positive effects of productivity improvements on the basis of the analysis results.
Economic growth, the efficiency of economic growth, the quality of economic growth, savings, labor productivity, capital intensity (the rate of ICOR)