Scientific-Theoretical Approaches to The Coordination of Economic Development Through Currency Policy with The Transformation of The Economy
Corresponding Author(s) : Norbayeva Mukhlisa Akram qizi
American Journal of Economics and Business Management,
Vol. 8 No. 5 (2025): May
Abstract
Currency policy plays a pivotal role in ensuring macroeconomic stability, especially in economies undergoing structural transformation and digitalization. In Uzbekistan, significant reforms from 2021 to 2024 have focused on liberalizing the exchange rate, adopting inflation targeting, and fostering digital finance, particularly within fintech sectors. While previous studies addressed monetary policy or digital finance independently, limited research has explored their intersection in shaping economic development outcomes in transitional economies. This study investigates how coordinated currency policy contributes to macroeconomic stability and supports economic transformation in Uzbekistan during the digitalization era. The findings reveal a consistent decline in inflation (from 10.1% to 8.1%), an increase in foreign reserves (from $32.1 to $37.8 billion), and rising fintech-related FDI (from $210 to $390 million), alongside a managed depreciation of the USD/UZS exchange rate. The research integrates macroeconomic data with digital finance trends to provide a holistic assessment of monetary governance in a digitally transforming economy an approach scarcely applied in the current literature. These outcomes suggest that the convergence of monetary and digital strategies can yield sustainable economic gains. Policymakers are advised to continue refining digital finance regulations and infrastructure to support future currency reforms. Further comparative studies are needed to assess long-term effects and generalize findings across similar developing economies.
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References
X. Si, C. Zhang, и F. Liu, «Assessment and Suggestions on Sustainable Development of Regional Ecological Economy Based on Emergy Theory: A Case Study of Henan Province», Sustainability, т. 15, вып. 16, с. 12495, 2023.
R. A. Migunovand и A. A. Syutkina, «Classical and neoclassical economic theory: Fundamentals of regulation for the agricultural sector», в BIO Web of Conferences, EDP Sciences, 2024, с. 05031.
Y. Doroshenko, I. Malykhina, и O. Leonova, «Conceptual Foundations for the Formation of the Paradigm of Neo-industrialization in Modern Conditions», в International Conference “New Technologies, Development and Applications”, Cham: Springer Nature Switzerland, 2023, сс. 502–510.
X. Chen и W. Ling, «Coordinated Regional Economic Development: A Study of the Relationship Between Regional Policies and Business Performance», Economics, т. 18, вып. 1, с. 20220113, 2024.
C. Imdorf и R. J. Leemann, «Education and conventions», в Handbook of economics and sociology of conventions, Cham: Springer International Publishing, 2023, сс. 1–33.
L. Zhukova, «Ensuring Of The Institutional Status Of The State Under Global Challenges», Balt. J. Econ. Stud., т. 6, вып. 2, сс. 39–42, 2020.
C. Xin, F. Guo, и A. Wang, «Exploring the impacts of China’s water resource tax policies: A trade-off between economic development and ecological protection», Front. Environ. Sci., т. 10, с. 982085, 2022.
Z. Yu, «Historical Contribution of Socialist Political Economy with Chinese Characteristics», Soc. Sci. China, т. 45, вып. 3, сс. 4–20, 2024.
R. A. Migunov и A. A. Syutkina, «Institutional responses to the challenges of the Russian agro-industrial complex», в BIO Web of Conferences, EDP Sciences, 2024, с. 05030.
B. Ren, «The political economy explanation of the logic of China’s “two miracles”», China Polit. Econ., т. 6, вып. 1, сс. 17–28, 2023.
S. R. Tursunkulovich, «Theoretical and Practical Issues Regulation of Money Aggregates», J. Adv. Sci. Res., т. 3, вып. 5, 2023.
S. Kozlovskyi, H. Mazur, N. Vdovenko, T. Shepel, и V. Kozlovskyi, «Modeling and forecasting the level of state stimulation of agricultural production in Ukraine based on the theory of fuzzy logic», 2018. Просмотрено: 16 май 2025 г. [Онлайн]. Доступно на: https://r.donnu.edu.ua/handle/123456789/707
О. А. Соболєва-Терещенко, В. В. Жарнікова, и К. В. Арабаджи, «Transformation of cashless payments in the European payment card market», Manag. Entrep. Trends Dev., т. 1, вып. 1, сс. 8–23, 2021.
I. Pasternak, A. Krap, L. Yastrubetska, D. Grytsyshen, и L. Sergiienko, «International Organisations’ Contributions to Establishing and Safeguarding Global Legal Standards and Financial Stability», Int. J., т. 5, вып. 9, сс. 390–403, 2024.
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