The Relationship Between Green Investment and Economic Growth: Mechanisms of Uzbekistan's Transition to a Low-Carbon Economy

This article examines, from both theoretical and empirical perspectives, the relationship between the volume and structure of green investment and the rate of economic growth. Drawing on an augmented Cobb–Douglas production function, the study assesses the contribution of green capital to gross domestic product (GDP) growth and develops three scenarios for Uzbekistan’s transition to a low-carbon economy through 2030. A system of financial, institutional, market-based and technological mechanisms for this transition is substantiated.