Sherali Mukimov
PhD, Associate Professor, Department of International Finance,
Tashkent State University of Economics Tashkent, Uzbekistan. Email: mukimov750@gmail.com
Abstract. This study analyzes the United States’ Green Industrial Policy (GIP) model, anchored by the Inflation Reduction Act (IRA), to evaluate its structural shift from market-based principles to active state intervention. Through a content analysis of the IRA’s key instruments, including technology-neutral tax credits and domestic content incentives, the research characterizes the US approach as “fiscal federalism” prioritizing financial mechanisms over regulation. The findings highlight the model’s dual focus on decarbonization and social equity. Conclusively, the paper derives strategic lessons for Uzbekistan, advocating for a hybrid policy framework that adapts these fiscal and social mechanisms to the context of a developing economy.
Key words: green industrial policy, Inflation reduction act, fiscal federalism, decarbonization, technology-neutral tax credits, domestic content requirements, equitable deployment, prevailing wage standards.