RESEARCH ON ECONOMIC GROWTH USING THE COBB-DOUGLAS PRODUCTION FUNCTION

Authors

  • Muminova Makhbuba Abduvafayevna Associate Professor, Department of "Econometrics", Tashkent State University of Economics, Uzbekistan https://orcid.org/0009-0006-5025-4764
  • Aziza Asrorova Oybekovna Faculty of Digital Economy, 2nd-year Master's student in "Econometrics", Tashkent State University of Economics, Uzbekistan

DOI:

https://doi.org/10.37547/ijmef/Volume04Issue12-18

Keywords:

Production function, panel data, economic growth

Abstract

This article examines the study of economic growth in Uzbekistan using the Cobb-Douglas production function based on econometric methods. The Cobb-Douglas production model is developed using data on capital, labor force, and energy consumption. The study evaluates the interrelation and efficiency of production factors based on GDP statistical data and three types of indicators affecting it during 2010–2023. This approach is applied to develop essential recommendations for economic growth and strategy formulation. 

References

Theoretical Sources

Cobb, C. W., & Douglas, P. H. (1928). A Theory of Production. American Economic Review, 18(1), 139–165.

Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70(1), 65–94.

Barro, R. J., & Sala-i-Martin, X. (1995). Economic Growth. McGraw-Hill.

Mankiw, N. G., Romer, D., & Weil, D. N. (1992). A Contribution to the Empirics of Economic Growth. Quarterly Journal of Economics, 107(2), 407–437.

Sources on Uzbekistan's Economy

Statistics Agency under the President of the Republic of Uzbekistan.

Central Bank of the Republic of Uzbekistan.

Abduvaliev, B. (2020). Diversified Development of the Economy of the Republic of Uzbekistan. Tashkent.

Manuals for Econometric Analysis

Gujarati, D. N., & Porter, D. C. (2009). Basic Econometrics. McGraw-Hill.

Wooldridge, J. M. (2010). Econometric Analysis of Cross Section and Panel Data. MIT Press.

Greene, W. H. (2012). Econometric Analysis. Pearson Education.

Scientific Articles and Research

Hasanov, F. (2013). The Impact of Capital and Labor on Economic Growth in Transition Economies: The Case of Uzbekistan. Transition Studies Review, 19(1), 23–34.

World Bank (2022). Uzbekistan Economic Update.

Asian Development Bank (2021). Uzbekistan: Key Indicators for Asia and the Pacific.

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Published

2024-12-30

How to Cite

Muminova Makhbuba Abduvafayevna, & Aziza Asrorova Oybekovna. (2024). RESEARCH ON ECONOMIC GROWTH USING THE COBB-DOUGLAS PRODUCTION FUNCTION. International Journal Of Management And Economics Fundamental, 4(12), 167–175. https://doi.org/10.37547/ijmef/Volume04Issue12-18

Issue

Vol. 4 No. 12 (2024): Volume 04 Issue 12

Section

Articles

License

Copyright (c) 2024 Muminova Makhbuba Abduvafayevna, Aziza Asrorova Oybekovna

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.