THE ROLE OF STATE GUARANTEES IN ENHANCING INVESTMENT VIABILITY AND FINANCIAL STABILITY: INTERNATIONAL EVIDENCE AND POLICY IMPLICATIONS

KUTLÍMURATOV ESENGELDI ABATBAY ULÍ

Authors

KUTLÍMURATOV ESENGELDI ABATBAY ULÍ Master’s student of Asia international university

Keywords:

state guarantees, investment risk, public-private partnerships, infrastructure finance, credit guarantees, Uzbekistan, financial stability

Abstract

This article analyzes the role of state guarantees in enhancing the financial viability, risk mitigation, and sustainability of investment projects, with a particular focus on large-scale infrastructure development, public-private partnerships (PPPs), and small and medium-sized enterprise (SME) financing. Drawing on international empirical evidence, the paper examines how sovereign guarantees, political risk insurance, and public credit guarantees influence investment behavior, financing costs, and project success rates. The article also integrates recent macroeconomic and investment statistics from Uzbekistan to provide contextual insights into the effectiveness of state guarantees in emerging economies. The study demonstrates that well-designed guarantee mechanisms can significantly stimulate private investment, improve access to finance, and support sustainable economic growth, while highlighting potential risks such as moral hazard, fiscal pressure, and market distortions.

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