ECONOMIC SHOCKS: THEIR NATURE AND THE IMPORTANCE OF INCORPORATING THEM INTO ECONOMIC GROWTH ANALYSIS

Abstract

This article examines the nature and essence of economic shocks, their underlying causes, and the mechanisms through which they influence economic growth. The effects of economic shocks on economic growth are comprehensively analysed in relation to key macroeconomic indicators, economic activity, investment, consumption, foreign trade, and financial stability. Furthermore, the study provides an empirical assessment of the effects of monetary shocks on the economy of the Republic of Uzbekistan in recent years.