IMPROVING FINANCIAL AND ECONOMIC MECHANISMS TO STIMULATE INNOVATION: EVIDENCE FROM UZBEKISTAN AND GLOBAL EXPERIENCE
Keywords:
innovation finance, economic mechanisms, R&D funding, venture capital, digital finance, Uzbekistan, institutional quality, sustainable development.Abstract
This article investigates the role of financial and economic mechanisms in stimulating innovative activity, with particular emphasis on the experience of Uzbekistan and international best practices. The study examines fiscal incentives, financial market development, institutional quality, venture capital systems, and digital finance as key drivers of innovation. Using official statistical data from Uzbekistan, World Bank databases, and international comparative analysis, the paper demonstrates that well-designed financial mechanisms significantly enhance innovation performance, productivity, and sustainable economic growth. Empirical evidence indicates that Uzbekistan has achieved substantial progress in innovation financing reforms; however, persistent structural constraints remain. The study proposes an integrated financial policy framework aimed at strengthening national innovation systems and ensuring long-term economic resilience.
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