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Author (s)

Karimov R.A., Shokirov F.T.


The article examines the relationship between investment and innovation activities in the context of the formation of an innovative economy in the Republic of Tajikistan. Based on the investment theory of creativity, problems and factors of investment and innovation management in the republic were identified. It was found that, in institutional terms, investments in innovation should be developed taking into account the capabilities of not only internal sources, but also due to endogenous factors of investment activity. Based on the provisions of the new theory of economic growth, it was concluded that in the near future, the fundamental factor in the development of investment in innovation is investment in human capital, since it is through them that the desired results can be achieved in the formation of an innovative economy in the republic. A hypothesis has been put forward reflecting the relationship between innovation and investment activity, according to which the multiplier effect of investment in innovation is an important factor and resource for the country’s future economic growth.


investment, innovation, technology, R&D, human capital, investment decision, new growth theory


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Publication date

Saturday, 28 October 2023