International Finance and Accounting


The scientific article examines the distribution of the liquidity effect of the Central Bank's monetary policy on the economy. From the scientific point of view of scientists, it has been proved that the liquidity effect spreads through the stock market in developed countries. However, due to the underdevelopment of the stock market in developing countries such as Uzbekistan, we have analyzed the liquidity effect through the deposit and loan portfolios of banks. In particular, our scientific article presents the SVAR model of the spread of the liquidity effect of monetary policy on the economy through the deposit and loan portfolio of JSCB Turonbank. The results of the analysis show that the impact of the increase in money supply on the liabilities of JSCB Turonbank is insignificant. Also, the increase in bank deposits did not lead to an increase in loans. Thus, we can say that the liquidity effect, which should be observed as a result of changes in the money supply through the JSCB Turobank, does not occur in practice.


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