FINANCIAL MECHANISMS FOR CREATIVE SECTOR DEVELOPMENT IN EMERGING ECONOMIES: EVIDENCE AND POLICY IMPLICATIONS FOR UZBEKISTAN

Abstract

This article examines the financial mechanisms supporting creative sector development in emerging economies and derives policy implications for Uzbekistan. The study combines comparative institutional analysis with secondary statistical analysis based on data from UNCTAD, the OECD, the ADB, the World Bank, and official statistical sources in Uzbekistan. Global evidence indicates a structural shift towards creative services, whose exports reached USD 1.7 trillion in 2024, alongside the continued development of financing mechanisms adapted to the specific characteristics of intangible assets, project-based revenue structures, and information asymmetries. For Uzbekistan, comprehensive historical statistical series covering the entire creative economy are still being developed; therefore, selected activity-level investment indicators are employed as transparent proxy measures. The analysis identifies substantial growth accompanied by fluctuations in capital investment in creativity, arts, and entertainment, together with broader opportunities for further expanding access to finance for micro, small, and medium-sized enterprises (MSMEs). The study proposes a stage-sensitive financing architecture that combines grants, guarantees, tailored bank lending, equity financing, intellectual-property-based finance, and export support. Its scientific contribution lies in developing a policy-oriented financing matrix that links financial instruments to project maturity and asset structure within the context of an emerging economy.