Sobirova Nazokat Obidjon qizi,
Independent Researcher
Toshkent, Uzbekistan
Email:sobirovanazokat0723@gmail.com
Abstract. Explaining the interaction among GDP growth, unemployment, and private investment simultaneously is important for economic policy, yet combining static relationships with dynamic adjustment processes within one model remains difficult. The study aims to assess the applicability of structural econometric models in static and dynamic analysis and to identify relationships among key macroeconomic variables. The empirical design relied on a longitudinal panel; the data were examined through ADF and PP stationarity tests, system GMM estimation, and a VAR approach. The descriptive sample covered N=120 observations. GDP growth had a mean of M=5.4, SD=2.1, and a range of 0.8–9.7; unemployment showed M=8.6, SD=2.7, and 4.1–14.2; private investment/GDP recorded M=19.3, SD=6.4, and 8.2–34.8. Correlation analysis identified a relationship of r=0.516 between economic growth and private investment and r=-0.428 between unemployment and private investment. Diagnostic results indicated statistical significance of the model relationships at p<0.05, p<0.01, p<0.001, and p=0.002. The scientific contribution lies in establishing an integrated empirical framework that connects static indicators with channels of dynamic influence. This approach provides a basis for incorporating private investment and externalities into subsequent monitoring. It also supports more coherent interpretation of short-term associations and longer-term adjustment mechanisms when structural models are used for economic policy assessment.
Keywords: ADF/PP tests, dynamic relationships, GDP growth, private investment, system GMM, unemployment, VAR model
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