INSTITUTIONAL AND ORGANIZATIONAL-ECONOMIC FACTORS OF EFFECTIVE ECONOMIC GROWTH

Аннотация

В этомисследовании рассматривается решающая роль институциональных и организационно-экономических факторов в обеспечении устойчивого и эффективного экономического роста. В нем изучается, как хорошо функционирующие институты, хорошее управление, качество регулирования и эффективные организационные структуры способствуют экономическим показателям. Особое внимание уделяется влиянию институциональных реформ, эффективности государственного сектора и развитию частного сектора на долгосрочный рост. В статье также анализируется международный опыт и даются рекомендации по политике для укрепления институциональных рамок для поддержки инклюзивного и зеленого экономического развития,что особенно актуально для развивающихся ипереходных экономик. Ключевые слова: экономический рост, институциональные факторы, организационно- экономические механизмы, управление, качество регулирования, институциональные реформы, эффективность государственного сектора, развитие частного сектора, инклюзивныйрост,зеленая экономика,устойчивоеразвитие. Economic growth is considered one of the most important outcome-based macroeconomic indicators. It is analyzed and assessed at various levels: the global economy, the national economy, its sectors, industries, and regions. Regardless of the level, economic growth implies an increase in the absolute volume of production, per capita output, and the relative share of expenditures (resources), as well as qualitative improvement in the composition(material andproduct structure) ofproduction. page503 INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE ISSN:2692-5206,ImpactFactor:12,23 AmericanAcademicpublishers,volume05,issue06,2025 Journal: https://www.academicpublishers.org/journals/index.php/ijai Thus, economic growth is measured through both absolute and relative indicators. The absolute indicators, regardless of the level of determination, reflect the growth (or decline) rates of production volume. This indicator is used to assess economic (and military) potential. Relative indicators of economic growth help draw general conclusions about the population's living standards and production efficiency. Changes in the qualitative composition of Gross Domestic Product (GDP) allow evaluating the modernity of production and identifying the renewal period of GDP. Effective economic growth is also assessed through absolute and relative indicators. The absolute indicator is expressed in the growth rates of Net Domestic Product (NDP), National Income(NI), and profit volume. Relative indicators are reflected in thegrowth (or decline) rates of NDP, NI, or profits per unit of production cost (GDP cost) or per unit of resource. An increase in the rate of GDP renewal and a shortening of the renewal period are also considered criteria forevaluating effective economicgrowth. Since the current system of national accounts in Uzbekistan does not yet determine the NDP and NI indicators, it is appropriate to use the total amount (mass) of profits generated in the national economy as the main absolute indicator of effective economic growth, and the rate ofprofit as the relativeindicator. For Uzbekistan, since 2001, the stability of economic growth rates (increase in absolute GDP) has been characteristic. Despite the global financial and economic crisis, such growth was on average 8.5–9.0% until 2010, 7.0–7.5% until 2010, 4.6% in 2020, 4.5% in 2021, 5.9% in 2022, and 6.6% in 2023. However, the increase in the absolute size of GDP does not necessarily reflect effective economic growth fortwo reasons. First, this growth does not indicate the costs incurred to achieve it, i.e., it does not reflect the changes (increase or decrease) in the cost price of GDP. In our country, the resource intensity of production remains high. In other words, the rate of increase in nominal GDP is significantly outpaced by the growth of production costs. This is explained by the low productivityof resources, especially labor. Second, the GDP growth rate does not account for changes (increases) in price dynamics over the year. Since both of these factors are of a negative nature, the dynamics of the total volume and rate (norm) of profit in the economy—which are key indicators of effective economic growth—are significantly lower than those of GDP and show a tendency to decline further. In addition to these two negative trends in the indicators of effective economic growth, it is also evident that the share of innovative and renewed products in the country’s GDP is low. In 2023, the share of innovative products (services) in Uzbekistan’s GDP was only 1.7%. This implies that the renewal of GDP in the country would take more than 20 years. This situation not only reduces the competitiveness of national producers but also sharply increases dependence on imported goods (services). In this context, Nobel laureate Douglass North justifiably asked: "Why don’t poor countries simply try and implement the proven measures thatensure economicprosperity?"—aquestio