THE NECESSITY OF THE PAYMENT SYSTEM
Keywords:
payment system, inflation, money circulation, electronic payments, financial stability, bank transfers, monetary policy, economic growth.Abstract
This article discusses the main aspects of the payment system, its structure, and its impact on the economy. It analyzes the interrelationship between the payment system and inflation, the development features of this system in Uzbekistan, and its effect on the country's financial stability. The study is based on the works of scholars such as F.Mishkin, L.Lafontaine, J.Tobin, as well as Uzbek economists I.Abdullayev and Kh.Rakhmatov.
References
Mishkin F.S. (2007). The Economics of Money, Banking and Financial Markets. Pearson Education.
Tobin J. (1995). Money and Economic Growth. Econometrica.
King M. (1999). The Transmission Mechanism of Monetary Policy. Bank of England.
Levine R. (2005). Finance and Growth: Theory and Evidence. Handbook of Economic Growth.
Bernanke B., Gertler M. (2001). Inside the Black Box: The Credit Channel of Monetary Policy Transmission. Journal of Economic Perspectives.
Kaleta G. (2012). Payment Systems and Their Impact on Inflation. Finance and Credit.
Lafontaine L. (2017). Modern Trends in Payment Systems. European Economic Review.
Abdullayev I. (2015). The Financial System of Uzbekistan: Current State and Prospects. Tashkent: Economic Literature Publishing.
Rakhmatov Kh. (2018). The Impact of Digitalization on Uzbekistan’s Payment Systems. Bukhara Economic Journal.
Abdullayev I. (2019). Electronic Payments and Their Role in the Economy. International Financial Journal.
Rakhmatov Kh. (2021). Regulating Payment Systems Amid Digital Transformation. Economics and Innovation.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 GEJournals
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
