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THEORETICAL MODELS OF DIGITALIZATION IN INSTITUTIONAL DEVELOPMENT

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This article analyzes the theoretical models of digitalization in institutional development and their relevance to the financial system. Based on scholarly sources and international experience, it is demonstrated that digital technologies enhance transparency, ensure accountability, reduce transaction costs, and increase economic efficiency in the relations between the state and the private sector. The Technology Acceptance Model, the Diffusion of Innovations Theory, and Institutional Theory are examined as the main approaches to implementing digital solutions. The study also highlights national-level challenges, including insufficient digital infrastructure integration, weak incentive mechanisms for small and medium sized enterprises, and cybersecurity risks. According to the author’s conclusions, aligning digital technologies with institutional reforms and international standards is a key factor in strengthening the stability of Uzbekistan’s financial system and building public trust.

AUTHORS

J.Aripov

Toshkent davlat iqtisodiyot universiteti huzuridagi “Oʻzbekiston iqtisodiyotini rivojlantirishning ilmiy asoslari va muammolari” ilmiy-tadqiqot markazi

Tags

# прозрачность# transparency# кибербезопасность# цифровизация# digitalization# shaffoflik# raqamlashtirish# kiberxavfsizlik# accountability# cybersecurity# hisobdorlik# подотчетность# moliya tizimi# financial system# цифровая инфраструктура.# digital infrastructure.# moliyaviy inklyuziya# financial inclusion# финансовая инклюзия# institutional theory# институциональная теория# institutsional rivojlanish# institutsional nazariya# raqamli infratuzilma.# институциональное развитие# финансовая система# принятия технологий# теория диффузии инноваций# institutional development# technology acceptance model# diffusion of innovations theory

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References

Bannister, F. and Connolly, R. (2020) ʼThe Future of e-Government in Public Sector Reformʼ, Information Polity, 25(3), pp. 241–260. doi:10.3233/IP-200229.

Chubuk, L. (2024). Impact of digital economy on business models and financial management: institutionalization of digital transformations. Economy Management Business. https://doi.org/10.31673/2415-8089.2024.010008.

Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340.

DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147–160.

Eriksson, O., & Öhlund, S. (2024). Digital Institutionalization: The Case of E-Prescribing. J. Assoc. Inf. Syst., 25, 8. https://doi.org/10.17705/1jais.00845.

Ermolaev, K. (2019). Institutional https://doi.org/10.15405/EPSBS.2019.03.57.

Gupta, S. and Keen, M. (2017) ʼDigital Revolutions in Public Financeʼ, in Gupta, S., Keen, M., Shah, A. and Verdier, G. (eds.) Digital Revolutions in Public Finance. Washington, DC: International Monetary Fund, pp. 3–33. doi:10.5089/9781484315224.071.

Kraus, K., Kraus, N., & Pochenchuk, G. (2022). Institutional aspects and digitalization of financial in the national economy. Innovation and Sustainability. https://doi.org/10.31649/ins.2022.2.18.28.

Nepochatenko, O., et al. (2023). Digitalization of the monetary system: institutional and regulatory aspects. Collected Works of Uman National University of Horticulture. https://doi.org/10.32782/2415-8240-2023-102-2-7

OECD (2018) The Role of Digital Government in Strengthening Public Governance. Paris: OECD Publishing. Available at: https://doi.org/10.1787/9789264299745-en

Prasad, E. (2021). The Future of Money. Harvard University Press. Rogers, E. M. (2003). Diffusion of innovations (5th ed.). Free Press.

Tikhonov, A., & Yuzefalchik, I. (2021). Digitalization of the monetary-credit system: institutional and regulative aspects. Russian Journal of Economics and Law. https://doi.org/10.21202/2782-2923.2021.4.713-730.

Bannister, F. and Connolly, R. (2020) ʼThe Future of e-Government in Public Sector Reformʼ, Information Polity, 25(3), pp. 241–260. doi:10.3233/IP-200229.

Chubuk, L. (2024). Impact of digital economy on business models and financial management: institutionalization of digital transformations. Economy Management Business. https://doi.org/10.31673/2415-8089.2024.010008.

Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340.

DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147–160.

Eriksson, O., & Öhlund, S. (2024). Digital Institutionalization: The Case of E-Prescribing. J. Assoc. Inf. Syst., 25, 8. https://doi.org/10.17705/1jais.00845.

Ermolaev, K. (2019). Institutional https://doi.org/10.15405/EPSBS.2019.03.57.

Gupta, S. and Keen, M. (2017) ʼDigital Revolutions in Public Financeʼ, in Gupta, S., Keen, M., Shah, A. and Verdier, G. (eds.) Digital Revolutions in Public Finance. Washington, DC: International Monetary Fund, pp. 3–33. doi:10.5089/9781484315224.071.

Kraus, K., Kraus, N., & Pochenchuk, G. (2022). Institutional aspects and digitalization of financial in the national economy. Innovation and Sustainability. https://doi.org/10.31649/ins.2022.2.18.28.

Nepochatenko, O., et al. (2023). Digitalization of the monetary system: institutional and regulatory aspects. Collected Works of Uman National University of Horticulture. https://doi.org/10.32782/2415-8240-2023-102-2-7

OECD (2018) The Role of Digital Government in Strengthening Public Governance. Paris: OECD Publishing. Available at: https://doi.org/10.1787/9789264299745-en

Prasad, E. (2021). The Future of Money. Harvard University Press. Rogers, E. M. (2003). Diffusion of innovations (5th ed.). Free Press.

Tikhonov, A., & Yuzefalchik, I. (2021). Digitalization of the monetary-credit system: institutional and regulative aspects. Russian Journal of Economics and Law. https://doi.org/10.21202/2782-2923.2021.4.713-730.