MOSLASHUVCHAN INFLYATSIYANI MAQSADLASH REJIMI: EVROPA TAJRIBASI VA O'ZBEKISTON UCHUN ISTIQBOLLAR
Keywords:
inflyatsiyani maqsadlash, pul-kredit siyosati, monetar transmission mexanizmi, dollarizatsiya, forvard yo'naltirish, Markaziy bank mustaqilligi, O'zbekiston.Abstract
Ushbu maqolada moslashuvchan inflyatsiya maqsadlashi (Flexible Inflation Targeting — FIT) rejimining Evropa mamlakatlarida — xususan Shvetsiya Riksbanki, Norvegiya Norges Banki va Chexiya Milliy bankida — qo'llanilishi tahlil qilinadi va O'zbekiston Respublikasi Markaziy bankining pul-kredit siyosatini takomillashtirish bo'yicha amaliy xulosalar taqdim etiladi. 2017–2025 yillar statistik ma'lumotlari asosida O'zbekistondagi monetar transmission mexanizmining zaiflik omillari — yuqori dollarizatsiya darajasi, davlat banklarining kreditlar bozorida ustunligi va inflyatsion kutilmalar boshqaruvi tizimining rivojlanmaganligi — tahlil qilinadi. Tadqiqot natijalariga ko'ra, O'zbekiston 5 foizlik inflyatsiya maqsadiga erishish uchun shunchaki foiz stavkasini boshqarish emas, balki FIT ning to'rtta institutsional ustunini — shaffoflik, kommunikatsiya siyosati, mas'uliyat va maqsad ishonchliligi — yaxlit tizim sifatida joriy etishi zarur.
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