METHODS OF STABILIZING MONETARY POLICY IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.11191284Keywords:
monetary policy, fluctuations, trade, market system, economic downturns, political issuesAbstract
The Republic of Uzbekistan, a country located in Central Asia, has been actively working to stabilize its monetary policy since gaining independence in 1991. The country's transition from a planned to a market-based economy has been accompanied by significant economic reforms, including the liberalization of prices, trade, and the financial sector. However, the country still faces challenges in maintaining macroeconomic stability, particularly in terms of inflation and exchange rate fluctuations. This article will discuss the methods of stabilizing monetary policy in Uzbekistan, highlighting the role of the Central Bank of Uzbekistan, the importance of inflation targeting, and the need for exchange rate flexibility.
References
Central Bank of Uzbekistan. (2020). Monetary Policy Framework.
International Monetary Fund. (2020). Uzbekistan: Staff Report for the 2020 Article IV Consultation.
Asian Development Bank. (2020). Uzbekistan: Country Diagnostic Study.
Ministry of Finance of Uzbekistan. (2020). Budget System of Uzbekistan.
McCandless, G. T. Jr., and W. E. Weber. 1995. ‘‘Some Monetary Facts.’’ Federal Reserve Bank of Minneapolis Quarterly Review 19(3): 2–11
Lucas, R. E. Jr. 1972. ‘‘Expectations and the Neutrality of Money.’’ Journal of Economic Theory 4(2): 103–124.
Lucas (1980b); Geweke (1986); and Rolnick and Weber (1994), Abel and Bernanke (1995, 242). Hall and Taylor (1997, 115)
Kormendi, R. C., and P. G. Meguire. 1984. ‘‘Cross-Regime Evidence of Macroeconomic Rationality.’’ Journal of Political Economy 92(5): 875–908.
