«innovative academy» ilmiy tadqiqotlarni




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Key words: financial sector, financial market, investment, financial services. 
The financial system stimulates economic growth by increasing the volume of 
savings, attracting and consolidating savings, producing information about 
investments, facilitating the inflow of foreign capital, as well as optimizing the 
allocation of capital. In countries with a well-developed financial system, 
economic development will also be high. In addition, it reduces poverty and 
inequality by expanding financing opportunities for poor and disadvantaged 
groups, increasing investment and productivity, which leads to increased 
income. 
Since the development of the financial system occupies an important place in the 
development of the country's economy, it is of great importance for each country 
to assess the development of its own financial sphere. In world practice, several 
tools are used for this. For example, the ratio of assets of financial institutions to 
GDP, the ratio of liquid liabilities to GDP and the ratio of deposits to GDP. 
However, since the financial system consists of various institutions and markets, 
they do not fully reflect financial development. For this reason, the World Bank 




«Zamonaviy dunyoda ilm-fan va texnologiya» 
nomli ilmiy-amaliy konferensiya 
has developed a methodology for assessing financial development, which 
defines four indicators representing a well-functioning financial system: 
financial scale, accessibility, efficiency and stability. We can illustrate this in 
more detail in table 1 below: 
table 1
1
 
 
Financial institutions: 
Financial markets: 
By a
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«innovative academy» ilmiy tadqiqotlarni

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