An Empirical Investigation of the Relationship Between Digital Economy and Economic Development in Uzbekistan

Abstract

This research aims to look into the dynamic and long-term relationships between digital economy and economic development in Uzbekistan. We have investigated annual time-series data on GDP per capita as a measure of economic development of countries and some factors that parts of digital economy throughout the period of 2005 to 2022 in the country. In our research, particularly, it has been used time-series model, namely, OLS and VAR models. Based on our research, it has been found that digital economy has a positive and substantial connection with GDP per capita both in the short and long term. Moreover, it shows that development of digital economy is a vital component that the government should focus on in order to boost the country's economic growth.