THE IMPORTANCE OF THE DEVELOPMENT OF FINANCIAL MARKETS IN THE ECONOMY OF UZBEKISTAN

Аннотация

Until now, when the question of the role of the financial sector in the development of the country's economy was put forward by Josef Schumpeter in 1911, it has been recognized by all scientists that the development of this industry is necessary for the development of the economy. Financial sector, on the other hand, is a set of financial institutions, instruments and markets. Taking into account the fact that today the highest share in the gross domestic product of the developed countries of the world belongs precisely to the sphere of financial services, relying on their experience, the development of the sphere of financial services in the economy of Uzbekistan, especially financial markets, is one of the most important issues facing our country. Key words: financial sector, financial market, investment, financial services. The financial system stimulates economic growth by increasing the volume of savings, attracting and consolidating savings, producing information about investments, facilitating the inflow of foreign capital, as well as optimizing the allocation of capital. In countries with a well-developed financial system, economic development will also be high. In addition, it reduces poverty and inequality by expanding financing opportunities for poor and disadvantaged groups, increasing investment and productivity, which leads to increased income. Since the development of the financial system occupies an important place in the development of the country's economy, it is of great importance for each country to assess the development of its own financial sphere. In world practice, several tools are used for this. For example, the ratio of assets of financial institutions to GDP, the ratio of liquid liabilities to GDP and the ratio of deposits to GDP. However, since the financial system consists of various institutions and markets, they do not fully reflect financial development. For this reason, the World Bank 4 «Zamonaviy dunyoda ilm-fan va texnologiya» nomli ilmiy-amaliy konferensiya ` has developed a methodology for assessing financial development, which defines four indicators representing a well-functioning financial system: financial scale, accessibility, efficiency and stability. We can illustrate this in more detail in table 1 below: table 11 Financial institutions: Financial markets:  Private sector loan against  Capitalization of the securities GDP market in relation to vayaim, special  Assets of financial debt obligations : a e institutions in relation to GDP  Private debt to GDP r a n  M2 in relation to Gross  Public debt to GDP o i Domestic Product  International debt to GDP t a c i  Deposits in relation to GDP  Capitalization of securities l p p  Share of financial sector in market in relation to GDP a y GDP  Shares sold in relation to GDP B o f o f  Accounts per person of  Market capitalization rate y Harming (commercial banks) outside the 10 largest companies t i t y b i l  Branches per hundred  Profitability of government b i l i s s i people (commercial banks) bonds (3 months, and 10 years) i o s s p  Percentage of people with  Ratio of internal debt to total o e p h bank accounts (by survey) supply T : : g g Percentage of enterprises  The ratio of the issuance of new e n n h s i s iwith credit lines (all enterprises) corporate bonds to GDP T u u  Account Flyers per  Stock market turnover ratio thousand people (commercial  Price synchronicity (add-on) banks)  Private information trading  Branches per hundred  Influence of prices thousand people (commercial  Liquidity / transactional costs banks)  Quotation on government  Percentage of people with bonds bank accounts (questionnaire)  Turnover of bonds (private,  Percentage of enterprises public) on the stock exchange : y c with credit lines (Hammers)  Accountability n e  Suffoizmargisi i c i f  Savings-deposits f E 5 «Zamonaviy dunyoda ilm-fan va texnologiya» nomli ilmiy-amaliy konferensiya `  Interest-free  Additive properties (jamiaktivlarganisbatanfoizda)  Profitability (return on assets, capitalization)  Boon indicator (oriherfindahlyoki H-statistics)  Z-points  Volatility of the stock price  Investment adequacy index( standard yield / average), ratios index of independent bonds  Asset quality ratios  Index uncertainty (stock price,  Liquidity ratios independent bond)  Others (net currency  Weakness in revenue status in relation to capital, etc.) management  Price / income ratio  Duration  Ratio to the total amount of y : short-term bonds (internal) t i i l  Relationship with the main b a yield of bonds t S When we talk about financial markets, they include banks, pension, insurance, foreign exchange funds and many other economic institutions that help distribute and redistribute money. Financial markets differ depending on the type of assets, delivery dates, and form of organization. Together , financial markets can be divided into the following types: 1-drawing. Financial marke