WAYS TO IMPROVE THE GREEN RECOVERY IN UZBEKISTAN BY INVESTMENT AND TRADE

Abstract

The imposition of measures to contain the transmission of the Coronavirus resulted in a significant economicdownturn, so disrupting the economic activities of numerous nations. The main objective of this study is to assess theeffects of intra-regional trade and investment on the green recovery of Uzbekistan’s economy throughout the period of2010–2023. This will be achieved by utilizing annual data and employing the panel co-integration approach. The findingsof the study provide confirmation that there is a positive and significant relationship between the level of green tradeopenness and the green recovery. The computed coefficient pertaining to direct foreign investment exhibits a negativevalue. The statistical insignificance of the patent coefficient is observed, while a positive impact is detected in relation tothe official exchange rate. The coefficient associated with financial development exhibits a positive and statistically significant relationship. The research presents a number of policy implications that are relevant for scholars and policymakers.These implications include the need to strengthen green Foreign Direct Investment (FDI), encourage green innovation,and promote the liberalization of green trade.