The impact of education management on entrepreneurship development and emerging markets

Economic Annals-XXI: Volume 210, Issue (7-8), Pages: 40-45

Citation information
Ostonokulov, A., Sholdarov, D., Kuliboyev, A., Yuldasheva, N., Abdujalilova, D., & Adilova, G. (2024). The impact of education management on entrepreneurship development and emerging markets. Economic Annals-XXI, 211(9-10), 40-45. doi: https://doi.org/10.21003/ea.V211-06

Azamat Ostonokulov
PhD (Accounting),
Department of Budget Accounting and Treasury,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
a.ostonokulov@tsue.uz
ORCID ID: https://orcid.org/0000-0001-9020-8697

Dilshod Sholdarov
PhD (Accounting),
Department of Budget Accounting and Treasury,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
d.sholdarov@tsue.uz
ORCID ID: https://orcid.org/0000-0001-9020-8697

Azamat Kuliboyev
PhD (Accounting),
Department of Budget Accounting and Treasury,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
a.kuliboyev@tsue.uz
ORCID ID: https://orcid.org/0000-0002-3357-070X

Nadira Yuldasheva
PhD (Accounting),
Department of Budget Accounting and Treasury,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
n.yuldasheva@tsue.uz
ORCID ID: https://orcid.org/0000-0002-5994-6787

Dilnoz Abdujalilova
PhD (Accounting),
Department of Insurance Work,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
d.abdujalilova@tsue.uz
ORCID ID: https://orcid.org/0009-0003-5169-4233

Gulnur Adilova
PhD (Accounting),
Department of Insurance Work,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
adilova_gulnur@tsue.uz
ORCID ID: https://orcid.org/0009-0001-8526-5889

The impact of education management on entrepreneurship development and emerging markets

Abstract. This study explores how education management impacts the growth of entrepreneurship and new markets in Uzbekistan from 2018 to 2023. We used data from the government and sources like the World Bank and UNDP, and we talked to 150 entrepreneurs and education managers. The results showed that when skills-based and digital education improved, more businesses started in cities by 22.3% and in rural areas by 14.7%. The part of small and medium-sized enterprises (SMEs) in the country’s economy increased from 31.4% to 38.6%. Technical and vocational training in 174 educational institutions led to the creation of 342,000 jobs. There was a strong link (r=0.68) between investing in education and an 8.9% yearly rise in new startups. However, challenges remain, such as unequal access to education in rural areas, which cover only 23.1%, and a 37% gap in skills. Recommendations include adding entrepreneurship education to courses, improving digital infrastructure (currently 61.5% internet coverage), and enhancing private sector involvement. Every 10% boost in funding for skills-based education resulted in a 6.4% growth in the private sector.

Keywords: Educational Management; Entrepreneurship; Emerging Markets; SME; Startup; Uzbekistan

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V211-06

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Received 29.05.2024
Received in revised form 20.06.2024
Accepted 24.06.2024
Available online 25.10.2024