Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth

Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth
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Unlocking the Potential for Labor Productivity Growth
ChApTER 3
Unlocking the Potential for
Labor Productivity Growth
Malika Shagazatova, Kiyoshi Taniguchi, Jasmin Sibal,
and Bakhrom Mirkasimov
Two and a half decades since its independence, Uzbekistan’s human capital 
development is at a crossroads. Rapid economic restructuring and the lack of 
a complementary skills development plan has led to large imbalances between 
the supply and demand for skills, which is especially the case among transition 
economies (Kupets 2016), and Uzbekistan is no exception to this trend. The 
Soviet-style education system is grossly misaligned with a growing private 
sector and is unable to catch up with the economy’s rapidly changing structure 
and labor market needs, technological change, and globalization.
Individual economic performance levels have been linked to the level of human 
capital, as human capital theory predicts (Kwon 2009; Wu 2013). Hence, 
improving the various dimensions of human capital can stimulate economic 
growth in developing countries. This chapter analyzes four distinguishing 
elements linked to human capital development in Uzbekistan (WEF 2017):