EQUILIBRIUM AND COMPETITIVE STRATEGIES IN OLIGOPOLY AND MONOPOLISTIC COMPETITION: THE CASE OF UZBEKISTAN'S ECONOMY
Abstract
This paper examines the economic transformation of Uzbekistan following its independence in 1991, focusing on the shift from a centralized to a market economy. It argues that this transition naturally led to the emergence of monopolistic and oligopolistic market structures, as early entrants established dominance in key sectors. The analysis utilizes classic economic models—Cournot, Bertrand, and Stackelberg—to explain the competitive strategies of firms in sectors like automotive (GM Uzbekistan), telecommunications, and energy. The paper also explores the nature of monopolistic competition in consumer goods markets. Furthermore, it discusses the regulatory measures implemented by the Uzbek government, including the 1996 law on competition and the role of the Competition Development and Consumer Rights Protection Committee, to mitigate the negative impacts of these market structures. The study concludes that while monopolies and oligopolies are an inherent feature of Uzbekistan's developing market economy, effective state intervention is crucial to ensure fair competition, prevent market abuse, and support the growth of small
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