The Importance of Monetary Instruments in Regulating the Activities of Banks

Aktam U. Burkhanov, Mohichekhra T. Kurbonbekova, Bunyod Usmonov, Nargiza Kh. Umarova and Khadicha T. Rashidova

Chapter 28 in The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution, 2026, pp 335-347 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The banks of the first category are large banks, for which “NBU” JSC and “Uzpromstroybank” ADB were selected. The banks of the second category are small banks, for which “Turonbank” ADB was selected. However, the analysis results in the structural autoregression model were significant. In both models, it was determined that large banks are weakly responsive to changes in monetary policy, while the opposite situation was observed in small banks. Using the SVAR model based on factors influencing the loan volume at “TuronBank” ADB, the authors analyzed the following impulse responses. According to the results, the liquidity of “TuronBank” ADB responds positively to changes in the Central Bank’s refinancing rate. Specifically, an increase in the refinancing rate leads to a rise in the bank’s liquidity for the first two months. However, this effect diminishes and disappears after the second month. On the other hand, an increase in the Central Bank’s mandatory reserve ratio negatively affects the bank’s liquidity. During the first two months, the higher reserve ratio reduces liquidity. Nevertheless, this effect also fades starting from the third month.

Keywords: Sustainable Development; Entrepreneurship; Innovation; Technology; Information Management; Organizational Behavior; Industrial Organization; Entrepreneurial Economy; Fifth Industrial Revolution; Cause-and-Effect Relationships; Fourth Industrial Revolution; Digital Technology; Industry 5.0; Operations Management; Operations Research; Supply Chain Management; Fintech; Cryptocurrency; Blockchain; Economics and Finance; Corporate Governance; Technological Environment; National Economy; State Management; Corporate Management; Agro-Industrial Complex 5.0; Fuel and Energy Complex 5.0; BRICS; EAEU; Central Asia; Social Responsibility; Digital Competitiveness; Digital Energy; Entrepreneurial Universities 5.0; Machine Learning; Cyber-Social System; Smart Company; Management of AI; Automatization; Decision-Making in Entrepreneurship; Big Data; Blockchain Finance; Robotisation Of Production; Applied Technological Solutions; Smart City; Local Entrepreneurial Economy; Modernisation; Institutes of Globalisation; E-Government; Innovative Economy; Knowledge Society; BRICS+ (search for similar items in EconPapers)
JEL-codes: L26 O33 Q01 (search for similar items in EconPapers)
Date: 2026
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