Диссертацияларининг асосий илмий натижаларини чоп этиш тавсия этилган илмий нашрлар ва Россия

Table 6
Results of econometric analysis

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27
№ 2 (13)
Апрель-июнь, 2021 йил
References
1. Salvatore (2006), Kim & Roubini (2008), Tang & Lau 
(2011), Banday & Aneja (2016).
2. Salvatore, D., 2006. Twin deficits in the G-7 countries 
and global structural imbalances. Journal of Policy 
Modeling, 28(6), 701-712.
3. Tang TC, Lau E., 2011. General equilibrium 
perspective on the twin deficits hypothesis for the USA. EEL-
10(3):245–251.
4. S. M. Ali Abbas, Jacques Bouhga-Hagbe et al., 2011. 
Fiscal Policy and the Current Account
5. IMF Working Paper, 2018. “Twin Deficits in 
Developing Economies”. IMF Research and Fiscal Affairs 
Departments.
6. Umer Jeelanie Banday & Ranjan Aneja, 2019. “Twin 
deficit hypothesis and reverse causality: a case study of 
China”. Palgrave Communications vol.5, Article number: 93
.
Twin Deficit Hypothesis: 
An Empirical Study in Uzbekistan 
Bekhzod Madjidov,
Leading Researcher Institute for Forecasting and 
Macroeconomic Research
, 
Nurbek Omonov,
Senior Researcher Institute for Forecasting and 
Macroeconomic Research
Abstract: 
this paper examines the relationship between 
fiscal deficit and current account deficit of Uzbekistan 
using time series data over the period of 2000–2020. We 
have empirically tested the twin deficit hypothesis using 
autoregressive distributed lag (ARDL) and OLS (Ordinary 
least squares) models. In the empirical part Augmented 
Dickey-Fuller (ADF) test is implemented. Our results show 
that, strengthening the fiscal balance by 1%, improves 
current account by 0.35% over GDP. The results validated 
the Keynesian hypothesis for the economy of Uzbekistan.
Keywords: 
twin deficit hypothesis, Current account 
deficits, Keynesian Proposition, Ricardian Equivalence 
Hypothesis, ARDL, OLS.