ZAMONAVIY MOLIYAVIY INFRATUZILMANING INSTITUSIONAL ASOSLARI: TO‘LOV TIZIMLARI NAZARIYASI VA O‘ZBEKISTON AMALIYOTI
DOI:
https://doi.org/10.5281/zenodo.18998572Keywords:
moliyaviy infratuzilma, to‘lov tizimi evolyutsiyasi, RTGS, ACH, ISO 20022, CBDC, Open Banking, institusional nazariya, kliring va hisob-kitob, O‘zbekiston to‘lov tizimi islohoti.Abstract
Ushbu tadqiqot zamonaviy moliyaviy infratuzilmaning institusional asoslarini, xususan to‘lov tizimlarining
nazariy poydevorini, evolyutsion rivojlanishini va O‘zbekiston amaliyoti bilan qiyosiy tahlilini o‘z oldiga maqsad qilib qo‘yadi.
Adabiyotlar tahlilida Fisher (1911), Keynes (1936), Diamond & Dybvig (1983), Rochet & Tirole (2003) va Brunnermeier
(2021) nazariyalariga asoslanildi. To‘lov tizimlarining yetti bosqichli tarixiy evolyutsiyasi, oltita asosiy komponenti, yettita
to‘lov kanali va beshta nazorat darajasidan iborat kompleks tasnif taklif etildi. Muqobil to‘lov tizimlari (Hawala, PayPal,
Bitcoin, Stablecoin, CBDC, Open Banking) institusional iqtisodiyot nuqtai nazaridan baholandi. Global mintaqaviy
tizimlarning qiyosiy tahlili (sakkiz mintaqa) va O‘zbekiston uchun yettita strategik tavsiya ishlab chiqildi. Olingan natijalar
O‘zbekiston Markaziy banki, moliya vazirligi va korporativ xazina mutaxassislari uchun amaliy ahamiyatga ega
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