The effect of foreign direct investment and human resources on economic progress of the agricultural sector in the selected developing countries of Asia (with the focus on Uzbekistan)

Economic Annals-XXI: Volume 212, Issue (11-12), Pages: 10-15

Citation information
Zokirov, K., Yusupov, A., Sherov, A., Abdullayev, D., Daminova, M., & Umarova, Z. (2024). The effect of foreign direct investment and human resources on economic progress of the agricultural sector in the selected developing countries of Asia (with the focus on Uzbekistan). Economic Annals-XXI, 212(11-12), 10-15. doi: https://doi.org/10.21003/ea.V212-02

Kurbonalijon Zokirov
PhD (Agricultural Management),
Tashkent State Agrarian University
2 University Str., Salar Kurgan, Kibray District, Tashkent Region, 111218, Uzbekistan
k_zokirov@tdau.uz
ORCID ID: https://orcid.org/0000-0002-8156-5913

Abboskhon Yusupov
PhD (Economics),
Kokand University
28-A Turkistan Str., Kokand, Fergana, 150700, Uzbekistan
abboskhony90@gmail.com
ORCID ID: https://orcid.org/0000-0001-7950-1593

Alisher Sherov
D.Sc. (Economics),
Professor,
Department of Economics,
Mamun University
989Q+6V, Bolkhovuz Str., Khorezm region, Khiva, 220900, Uzbekistan
sherov_alisher@mamunedu.uz
ORCID ID: https://orcid.org/0000-0001-7383-6229

Dadaxon Abdullayev
PhD (Agriculture),
Researcher,
Urgench State University
14 Kh. Alimdjan Str., Urganch, Khorezm, 220100, Uzbekistan
dadaxonabdullayev96@gmail.com
ORCID ID: https://orcid.org/0009-0009-8583-2538

Madinakhon Daminova
PhD (Econometrics and Statistics),
Tashkent State University of Economics
49 Islom Karimov Str., Тashkent, 100066, Uzbekistan
mdaminova@uwed.uz
ORCID ID: https://orcid.org/0009-0003-4705-8576

Zebo Umarova
MA (Philology),
Researcher,
Termez State University
43 Barkamol Avlod Str., Termez, Surxondaryo, 190100, Uzbekistan
zebo7779@gmail.com
ORCID ID: https://orcid.org/0009-0004-0844-8886

The effect of foreign direct investment and human resources on economic progress of the agricultural sector in the selected developing countries of Asia (with the focus on Uzbekistan)

Abstract. Investment is one of the fundamental and inseparable sectors of the economy, which, together with human capital, can play an influential role in the development and prosperity of the industry. Foreign direct investment (FDI) needs a long-term link and indicates the sustainable interests and management of economical organization residing in the other countries. This study examines the effect of FDI on economic growth in the agricultural section of Uzbekistan during the years 2022-2023. The findings of the research show that FDI has had a positive and significant effect on economic growth through an increase in physical capital and technology. The interaction impact of FDI and human capital on the economic performance of Uzbekistan is positive and statistically significant. Hence, considering the high level of human capital in Uzbekistan, the possibility of technology transfer through foreign investment provides the basis for development and increased productivity, as well as benefiting from technology spillovers, which is also a driving factor in the economic growth of Uzbekistan.

Keywords: Human Capital; Foreign Direct Investment; FDI; Economic Growth; Agricultural Industry; Developing Countries; 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.V212-02

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Received 26.08.2024
Received in revised form 17.09.2024
Accepted 27.09.2024
Available online 28.12.2024