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FOREIGN INVESTMENTS AND FISCAL STIMULATION IN UZBEKISTAN

CBU International Conference on Innovation in Science and Education

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Title FOREIGN INVESTMENTS AND FISCAL STIMULATION IN UZBEKISTAN
 
Creator Yakubova, Nargiza; Tashkent Institute of Finance
 
Subject Investments, tax, incentives, Uzbekistan, effectiveness
 
Description This article analyzes the trends in foreign capital inflows into selected CIS countries, using a documented analysis. The study revealed that despite  improved macroeconomic stability and economic growth capital inflow in CIS countries is  modest , reflecting a weak overall investment climate in the region. The study results show that private capital inflows into these countries consist mainly of direct investments, and concentrate in the few countries with big oil reserves. Lack of protection for property rights, with threats from corruption, crime, and excessive regulation, was the significant investment impediment cited most frequently in the research. Despite Uzbekistan shows strong growth comparing a weak performance in the broader Europe and Central Asia region, the level of efficiency of  using the incentives still remaining low. According the results of the study unconditional and irrevocable tax and customs exemptions are the main reasons for the low efficiency of the incentives. The paper subsequently suggests that fiscal stimulus are only marginally efficient in the absence of effective monetary, exchange-rate, and industrial policies.
 
Publisher Central Bohemia University, o.p.s.
 
Contributor —
 
Date 2015-09-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://ojs.journals.cz/index.php/CBUConference2013/article/view/607
10.12955/cbup.v3.607
 
Source CBU International Conference Proceedings; Vol 3 (2015): CBU International Conference Proceedings 2015; 234-241
1805-9961
1805-997X
 
Language eng
 
Relation http://ojs.journals.cz/index.php/CBUConference2013/article/view/607/561
 
Rights Copyright (c) 2015 Nargiza Yakubova
https://creativecommons.org/licenses/by/3.0/