Методологические основы и приоритеты стратегического развития рынка ценных бумаг в Узбекистане

Аннотация

Objects of research: securities markets of the Uzbekistan and related foreign securities markets. Purpose of work: Development of scientific-methodological foundations, the definition of priorities for strategic development of the domestic securities market in the medium term and a mechanism for implementing in the context of modern macroeconomic policy of the state. Methods of research: dialectical and systemic approaches, grouping, and statistical data processing, economic and mathematical models, correlation-regression and comparative analysis, synthesis, forecasting, extrapolation, and expert analysis. The results obtained and their novelty: developed scientific-methodological basis of systems research and development of the stock market linked to the real economy through overall balancing mechanism for them, which are interconnected subsystems of the economic system that implements the principle of equivalence of the securities market and the real economy; represented the principles of sustainable functioning of the stock market, determined by its economic and social functions, as well as the economic model of the stock market and the equilibrium equation of the quantity theory of investment in securities; indentified regularities and the problems of development of foreign stock markets in conditions of financial globalization and crises; presented models of macro-regulator of financial market, complex system of management of its quality, architecture of the global stock market and macro- regulators with the general me-ta-stabilizer; assessed the potential reserves of the domestic stock market, defined regionally-industry imbalances in its functioning; identified indicators of financial security and competitiveness of the financial market, forecasting scenario models and the development priorities of the stock market of Uzbekistan in the medium term, develop mechanism and a set of practical measures for their implementation in the context of modem macroeconomic policy of the government. Practical value: Results can be used in the development of state program of strategic development of the domestic stock market in the medium term, implementation of scientific and practical research and preparing specialists. Degree of embed and economic effectivity: materials of dissertation were used in improving educational program courses of "Financial Market and Securities," "Fundamentals of Financial Engineering", "Regulation of financial markets", "Economic systemology", "Financemetrics", "Corporate Policy", "Securities Portfolio management" and in the educational process of Tashkent Financial Institute. Field of application: Ministry of Finance, Central Bank, the Centre of coordination and control over functioning of securities market under the Real Estate State Committee of Uzbekistan, Higher educational institutions.