STATE REGULATION OF THE ECONOMY: NECESSITY AND METHODS

Turopova Nigora Xolmurod Qizi

Authors

Turopova Nigora Xolmurod Qizi Prepared for Master's Coursework — Husnia Bek University: Termiz Davlat Universiteti Course: State Regulation of the Economy Date: December 25, 2025 Location: Termez, Uzbekistan

Keywords:

State regulation of the economy refers to government actions aimed at correcting market failures, ensuring equity, and promoting macroeconomic stability. In modern economies, regulation also addresses strategic objectives such as resilience, innovation, and climate goals.

Abstract

This paper examines why state regulation of the economy is necessary and the methods used to achieve it. It begins by explaining market failures, equity, and stability objectives that justify intervention. It then reviews key regulatory methods: competition policy, natural monopoly regulation, environmental instruments, price controls and subsidies, regulatory impact assessment, and public procurement rules. Uzbekistan-specific reforms are highlighted, including privatization and competition law updates. The paper concludes with best-practice principles for effective, transparent, and proportionate regulation.

References

OECD Best Practice Principles; IMF Fiscal Monitor; World Bank subsidy reform guidelines; UNCITRAL Model Law on Procurement; WTO GPA; IMF and ADB reports on Uzbekistan reforms.