Published May 17, 2026 | Version v1
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THE IMPORTANCE OF FINANCIAL INSTITUTIONS IN ECONOMIC DEVELOPMENT

Authors/Creators

  • 1. Associate Professor at Jizzakh Polytechnic Institute
  • 2. Student, Jizzakh Polytechnic Institute

Description

This article examines the importance and role of financial institutions in ensuring economic development and sustainable economic growth. The study analyzes the activities of banks, insurance companies, investment funds, and other financial organizations in supporting entrepreneurship, attracting investments, increasing employment, and improving financial stability. Particular attention is paid to the role of financial institutions in the efficient allocation of financial resources and the development of the national economy. The article also highlights modern challenges in the financial sector and discusses ways to improve the effectiveness of financial institutions based on international experience. The findings emphasize that a strong and stable financial system is one of the key factors for economic progress and social welfare.

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References

  • 1.Adam Smith An Inquiry into the Nature and Causes of the Wealth of Nations. London: Methuen & Co., 1776.
  • 2.John Maynard Keynes The General Theory of Employment, Interest and Money. London: Macmillan, 1936.
  • 3.Romer, P. M. "Endogenous Technological Change." Journal of Political Economy, 1990.
  • 4.International Monetary Fund. Global Financial Stability Report. Washington, D.C., 2024.
  • 5.Organisation for Economic Co-operation and Development. Financial Markets and Economic Growth. Paris, 2023.