METHODS FOR ASSESSING THE IMPACT OF SMALL BUSINESS DEVELOPMENT ON NATIONAL ECONOMIC GROWTH
DOI:
https://doi.org/10.5281/zenodo.22654344Abstract
This article examines methodological approaches to assessing the impact of small business
development on national economic growth. The study systematizes quantitative, structural, index-based,
correlation-regression, and forecasting approaches, proposing an integrated assessment framework that
combines the production, institutional, innovation, digital, human-capital, and economic-stability dimensions
of small business development. The empirical section utilizes statistical data for Uzbekistan for 2010–2025
and a system of six composite indices: innovation development, institutional development, management
efficiency, digitalization, human capital, and economic stability. The study demonstrates that assessing the
role of small business solely through its share in gross domestic product is insufficient, as the sector may
simultaneously exhibit high employment, investment, and export activity while facing productivity, institutional,
or technological constraints. Therefore, a Min–Max normalization procedure and an integral index are proposed
to ensure comparability across indicators. The article also considers multiple regression analysis as a tool for
examining the relationship between small business development and economic growth. The results highlight
the importance of controlling for multicollinearity and avoiding causal interpretations based solely on short
annual time series. The proposed methodology can be applied to national and regional monitoring, comparative
assessment, and the formulation of evidence-based small business development policies.
Keywords
small business, economic growth, sustainable economic growth, SME development, integral index, Min–Max normalization, correlation analysis, regression analysis, human capital, digitalization, innovation, Uzbekistan.References
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