Publication Details
Abstract
This article examines the institutional foundations for the development of youth entrepreneurship, treating them not as the activity of an individual enterprise but as an interconnected system of institutions. The study argues that, in a market economy, the sustainable development of youth entrepreneurship is determined less by the availability of financial resources than by the maturity of the institutional environment. Drawing on institutional economic theory and the practice of the Republic of Uzbekistan, the paper identifies and analyses three core institutional pillars: the normative-legal base, financial institutions, and educational and scientific institutions. The normative-legal base establishes the legal guarantees and support mechanisms that enable young people to enter business; financial institutions — commercial banks, microfinance organisations, investment funds and grant programmes — supply the resources required to launch and scale ventures; and educational and scientific institutions form the human capital and entrepreneurial competencies on which entrepreneurial success ultimately depends. The paper concludes that the effectiveness of youth entrepreneurship depends not on the isolated functioning of these institutions but on their integrated and coordinated interaction.