THE MACROECONOMIC IMPLICATIONS OF DEMOGRAPHIC VOLATILITY: A THEORETICAL AND EMPIRICAL FRAMEWORK

This study evaluates the relationship between demographic transitions and macroeconomic stability by synthesizing the Theory of Demographic Transition with modern Human Capital Theory. It explores how shifts in age structure, urbanization, and migration serve as the primary engines of national development. Special attention is given to the "demographic dividend" within Uzbekistan, arguing that a young population requires robust institutional alignment to foster growth. The research concludes that integrating demographic forecasting into fiscal and industrial policy is vital for sustainable economic equilibrium.