2194 The Impact of the Digitalization Process and Investment on the Structural Changes of the Economy

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ISSN: 2237-0722
Vol. 11 No. 4 (2021)
Received: 28.05.2021 – Accepted: 25.06.2021 
2194
 
The Impact of the Digitalization Process and Investment on the Structural Changes 
of the Economy 
Avazov Nuriddin
1
; Azimova Lola
2
; Saidjon Khayitov
3 
1
Researcher Student of Tashkent State University of Economics, Tashkent, Uzbekistan. 
1
[e-mail]; ORCID: https://orcid.org/0000-0001-6347-7445 
2
Teacher of Department of “Corporate Governance”, Tashkent Institute of Textile and Light Industry, Tashkent, 
Uzbekistan. 
2
[e-mail] 
3
PhD Student of Department of “Macroeconomic Analysis and Forecasting”, Tashkent State University of 
Economics, Tashkent, Uzbekistan. 
3
[e-mail]; ORCID: https://orcid.org/0000-0002-1614-5293 
Abstract 
This article analyzes the impact of digitalization on the structural changes of the economy on the 
example of Uzbekistan. The degree of effectiveness of the investment factor in such circumstances is 
also considered. The research work of a number of scientists has been studied and the necessary 
aspects for research have been presented. The main factor determining the level of digitalization is 
the gross value added of the digital economy to GDP. The next factor influencing structural change is 
the inflow of investment in fixed assets. An econometric analysis was performed to determine the 
relationship between the factors and a conclusion was drawn based on the results. The study was 
conducted for the period 2016-2020 of the Uzbekistan’s economy. The article also theoretically 
explores and analyzes structural changes in the economy, its impact on economic development, 
factors influencing structural changes, and the impact of investment flows on the economy and 
structural changes. The study found a strong correlation between GDP and gross value added in the 
ICT sector. In addition, the analysis found that investment has a positive effect on structural changes, 
as a result of increased investment in fixed assets increases both the volume of GDP and the level of 
structural change. 
Key-words: Structural Changes, Investment Flows, Digital Services, ICT (Information and 
Communication Technologies), GDP, Digital Economy, Investment Climate, Investment 
Attractiveness, Foreign Investment, Economic Structure, Industry, Services, Agriculture, 
Construction. 

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