THE ROLE OF ECONOMIC DIVERSIFICATION IN REGIONAL ECONOMIC DEVELOPMENT AND ITS IMPACT ON COMPETITIVENESS (CASE OF KHOREZM REGION)
DOI:
https://doi.org/10.5281/zenodo.19977213Keywords:
regional economic development, diversification, competitiveness, economic structure, industrialization, service sector, structural transformation, regional economy, economic stability.Abstract
This study examines the theoretical and methodological foundations of economic diversification and its impact on regional economic development and competitiveness. The Khorezm region is selected as the empirical case to analyze structural changes in sectoral composition, production dynamics, and the development trends of the service sector. The research identifies a strong relationship between the degree of economic diversification, regional stability, and competitiveness. Empirical findings demonstrate that shifts in the balance between industry, services, and agriculture significantly influence economic growth dynamics in the region. At the same time, the persistence of sectoral concentration in certain industries may hinder long-term sustainable development. The study proposes scientifically grounded recommendations aimed at deepening diversification processes, improving intersectoral balance, and enhancing innovation-driven development in the region.
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