World Economics and Finance Bulletin

THE FORMATION OF A GREEN ECONOMY IN UZBEKISTAN AS THE FOUNDATION FOR ACHIEVING DEVELOPMENT GOALS

Nazarova Ra'no Rustamovna, Nematova Diora Akramovna — Sun, 05 Jan 2025 00:00:00 +0000

The article emphasizes the importance of shifting Uzbekistan's economic activities towards minimizing environmental risks. It highlights that the transition to a "green economy" is not just a new model, but a strategically important step for ensuring the country's sustainable development. This economic model aims to improve the quality of life for the population, create conditions for long-term well-being, and protect the interests of future generations. Special attention is given to the implementation of environmentally safe technologies during the transition, which not only contributes to environmental protection but also improves social conditions and ensures justice for all segments of society in Uzbekistan.

A THEORETICAL FRAMEWORK FOR REFORMING THE MANAGEMENT OF FOREIGN RESERVES AND DETERMINING THEIR OPTIMAL SIZE FOR ACTIVE FISCAL POLICY - AN ANALYTICAL STUDY OF THE IRAQI ECONOMY

Taib Othman Abdurrazaq — Thu, 09 Jan 2025 00:00:00 +0000

Determining the optimal size of foreign reserves has a major role in achieving optimal employment of the financial surpluses that accrue to different countries in their economies, and this issue occupies special importance in rentier economies such as the Iraqi economy because of the association of those reserves with the value of unstable exports. The research stems from the hypothesis that the Central Bank of Iraq was unable to set a clear policy for the employment of foreign reserves to determine the optimal size of those reserves and the best way to employ them and to prefer the employment of these reserves in more effective investment aspects. The research concluded with a set of results, the most prominent of which is that the continued presence of foreign reserves of Iraq in the US Federal Bank in the form of treasury bonds does not achieve optimal employment for them, and the research suggested the use of foreign reserves to establish a sovereign fund for investment to maximize returns and achieve liquidity by employing international expertise to manage it.

DIAGNOSING THE SUCCESS OF THE BLUE OCEAN STRATEGY WITHIN THE FRAMEWORK OF HUBRISTIC LEADERSHIP IDEAS

Basma M. Hamad, Hussain Walid Hussain — Thu, 09 Jan 2025 00:00:00 +0000

This research examines the applicability of Blue Ocean Strategy in the context of the key ideas of Hubris leadership. The study aims to understand how this leadership can be leveraged to achieve success within expansion strategies into new or emerging fields, where competition is less. The research indicates that there is a lack of knowledge about how hubris leadership can benefit from blue ocean strategy, despite the application of these concepts within the studied organization. The importance of the research lies in providing a scientific treatment for this problem, with a focus on diagnosing the extent of the application of hubristic leadership and the blue ocean strategy, and understanding the nature of the relationship between them within the University of the Future. The research adopted the descriptive analytical approach, and a questionnaire was used to survey the opinions of the research sample consisting of members of the university’s board of directors. The data were analyzed using the central tendency tools available in the SPSS-v23 program. The results showed that hubristic leadership plays an important role in the success of the implementation of the Blue Ocean Strategy at the University of the Future, as this leadership achieves a statistically highly positive impact, which confirms the validity of the main and sub-hypotheses of the research. Based on these results, the researchers recommend the need to host specialists and experts in the field of leadership and strategy to enhance human resources awareness of the importance and benefits of hubristic leadership and the Blue Ocean Strategy.

MAIN DIRECTIONS OF DEVELOPMENT OF LEASING SERVICES AND SERVICE MARKET IN THE MODERNIZATION OF THE ECONOMY

Boyjonova Shakarjon Jamoliddin qizi — Thu, 09 Jan 2025 00:00:00 +0000

This article examines the evolving landscape of leasing services and the broader service market against the backdrop of economic modernization. It identifies the principal directions in which leasing has developed—namely digitalization, product diversification, sustainability integration, and enhanced customer experience—and how these shifts reflect broader service-sector trends. Drawing on relevant literature, empirical industry data, and expert insights, the paper highlights how advanced technologies, new financing models, and changing regulatory frameworks shape the trajectory of the leasing industry. The analysis reveals that modernization in the economy encourages more flexible, technology-driven, and value-oriented leasing arrangements that align with clients’ strategic needs.

MEASURING AND ANALYZING THE RELATIONSHIP BETWEEN FINANCIAL INCLUSION AND BANK DEPOSITS IN IRAQ

Rawahel Ali Talei kabbashi, Rana AbdulKareem Abed, Noor Hazim Mohammed — Tue, 09 Jan 2024 00:00:00 +0000

The research highlights the measurement and analysis of the dynamic interactions (short-term and long-term) between some financial inclusion indicators (number of bank branches, ATM machines, credit extended to the private sector, broad money supply) as independent variables, and bank deposits as a dependent variable, using the ARDL model. Additionally, quarterly data covering the period (2010-2023) were used. The research assumes that there is both a negative and positive effect of certain financial inclusion indicators on bank deposits in Iraq. Finally, the results of the dynamic interactions revealed that the two indicators (number of bank branches and credit extended to the private sector) have a positive impact on bank deposits in the short term, but they have a negative impact in the long term. As for the two indicators (ATM machines and broad money supply), they have a negative and positive effect on bank deposits in the short term due to time lags, but in the long term, the ATM indicator has a negative impact on bank deposits, while the broad money supply indicator has a positive effect. Therefore, policymakers in the Iraqi financial sector should focus on improving financial infrastructure, raising financial awareness among individuals and institutions, encouraging innovation in financial services, and enhancing the stability of the financial system in order to promote financial inclusion and increase bank deposits, which will contribute to sustainable economic development in Iraq

EVALUATING VOLUNTARY DISCLOSURE ACCORDING TO GRI REQUIREMENTS AND ITS ROLE IN ACHIEVING SUSTAINABLE DEVELOPMENT - A STUDY OF A SAMPLE OF ISLAMIC BANKS IN THE IRAQI ENVIRONMENT

Sun, 12 Jan 2025 00:00:00 +0000

This study aimed to clarify the concept of social responsibility accounting and clarify the role of economic units in applying disclosure requirements according to its standards and establishing an approach between the concepts and requirements of contemporary social responsibility accounting with what is stated in it according to the Islamic perspective and to stand on the awareness of economic units of the importance of applying the requirements of social responsibility accounting and its importance to society as a whole and the Islamic culture in particular. The study employed the deductive approach in the theoretical aspect and the inductive aspect in the practical element. The research hypothesis was tested on a sample of Islamic banks by reviewing their annual report for the year 2023 and studying all the expenses and activities referred to in the report and related to social activities by employing a study of the content of the reports and preparing a checklist to assess the commitment to the requirements of GRI and then proceeding to prepare a questionnaire for specialists regarding the importance of voluntary disclosure in achieving sustainable development, to observe the extent of their awareness towards establishing the requirements of social responsibility accounting and its impact on sustainable development with (60) specialists. The research concluded that there is a weakness in the voluntary disclosure of social responsibility requirements for the research sample. It recommended the importance of this disclosure to achieve sustainable development Because it gives the clients and stakeholders confidence in the research sample

THE PATH TO A SUSTAINABLE AND HAPPY FUTURE: EXAMINING THE INTERPLAY BETWEEN RENEWABLE ENERGY, GOOD GOVERNANCE, AND HAPPINESS INDEX IN G7 COUNTRIES

Muqdad Zaki Hammed Banana — Thu, 09 Jan 2025 00:00:00 +0000

The interconnection between sustainable development, social well-being, and human happiness is increasingly recognized today. This study represents a significant advancement in understanding this complex relationship by examining the factors influencing the happiness index in the Group of Seven (G7) developed countries, focusing on the role of renewable energy and effective governance. Utilizing a panel data approach (quantile panel regression) spanning from 2012 to 2023, the research investigated the impacts of various factors, including renewable energy consumption (REC), good governance index (GGI), income (GDP), inflation (INFL), and trade openness (TO). Holding other variables constant, an increase of one percent in REC, GGI, GDP, INFL, and TO is associated with happiness index increases ranging from 0.20 to 1.75 percent, 0.13 to 0.19 percent, 0.30 to 1.46 percent, a decrease of 0.05 to 0.09 percent, and an increase of 0.60 to 2.39 percent, respectively. The study's findings demonstrate that elevating renewable energy consumption, enhancing governance quality, fostering economic growth, and expanding trade relations significantly increase happiness levels in G7 countries. Conversely, an uptick in the inflation rate has a negative impact on the happiness index