Assessment of Innovative Development of Enterprises in the Context of the Digital Economy

This article is aimed at developing and empirically testing a system of econometric models to quantitatively assess the level of innovative development in the economy of Uzbekistan. The study uses panel data collected across 14 regions of Uzbekistan over the period 2015–2022 (n = 112 observations). The research applies multivariate regression, a fixed effects model selected based on the Hausman test, and the Granger causality test. The data were obtained from the Statistics Agency of Uzbekistan, the Ministry of Innovation, and the World Bank databases. According to the empirical analysis, ICT investments have the strongest positive impact on the share of innovative products (β = 0.412, p < 0.001). Expenditures on research and development (R&D) (β = 0.287) and the education index (β = 0.334) are also statistically significant predictors. The model explains 84.7% of the total variance (R² = 0.847).