Financial market in Belarus and Uzbekistan

Authors

Keywords:

free capital, turnover and revenue of securities, high integrated corporate structures, financial market, ranking factors, internationalization

Abstract

The article reveals the theoretical foundations, the essence and role of the securities market, studies its current state in the Republic of Belarus and the Republic of Uzbekistan, identifies the problems of its development and measures taken by the government to overcome them. The problems that impede the increasing role of the stock market, bringing the activities of joint stock companies to the level of international standards are analyzed. The factors that influence the expansion of the scale of investment operations of commercial banks with shares of joint-stock enterprises of Uzbekistan are studied, recommendations are given for improving the investment and financial infrastructure of Uzbekistan.

Author Biographies

  • Irina A. Karachun, Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

    PhD (economics); head of the digital economy department, faculty of economics

  • Nargiza M. Babayeva, Kokand State Pedagogical Institute named after Mukimi, 23 Turon Street, Kokand 113000, Uzbekistan

    PhD (economics), docent; head of the department of quality control of education

References

  1. Khamidulin MB. The main directions of improving corporate governance in the Republic of Uzbekistan. Mezhdunarodnyi akademicheskii vestnik. 2015;6(12):56–57. Russian.
  2. Babaeva NM. Securities market as a supplier of investment resources for the development of corporate enterprises. Innovatsionnaya ekonomika: perspektivy razvitiya i sovershenstvovaniya. 2017;4(22):10–15. Russian.
  3. Drachev D. Economic content of the securities market and principles of its circulation. Public service. 2004;6(32):47–51. Russian.
  4. Vlasenko M, Yuzefal’chik I. The financial market and the real sector of the economy: interconnection and transmission of shocks. Bankauski vesnik. 2018;12:9–18. Russian.
  5. Agency of the Republic of Uzbekistan for development of capital market. [Internet; cited 2019 September 9]. Available from: https://www.cmda.gov.uz/ru/itogi/591-pokazateli-2018. Uzbek.
  6. Republican Stock Exchange «Toshkent» [Internet; cited 2019 September 9]. Available from: https://www.uzse.uz/. Uzbek.
  7. Banking and Finance Academy of the Republic of Uzbekistan (BFA) [Inernet; cited 2019 September 9]. Uzbek.

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Published

2019-12-03

Issue

No. 2 (2019): Journal of the Belarusian State University. Economics

Section

G. Financial Economics

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How to Cite

[1]
Karachun, I.A. and Babayeva, N.M. 2019. Financial market in Belarus and Uzbekistan. Journal of the Belarusian State University. Economics. 2 (Dec. 2019), 37–47.