FORMATION OF A COMPREHENSIVE INDICATOR SYSTEM FOR ASSESSING REGIONAL INDUSTRIAL DEVELOPMENT: A THEORETICAL AND EMPIRICAL APPROACH

Abstract

The development of regional industrial sectors is a key driver of economic growth, employment, and technological innovation. Traditional single-factor evaluation methods, such as measuring only output or employment, fail to capture the multidimensional nature of industrial performance. This study proposes the formation of a comprehensive indicator system to assess regional industrial development, integrating economic, social, technological, and institutional dimensions. Using Bukhara region as a case study, the methodology combines statistical normalization, weighted aggregation, and expert judgment to create a composite index that reflects productivity, innovation, workforce skills, and institutional efficiency. Empirical analysis demonstrates that regions with higher composite index scores exhibit stronger industrial output growth, higher employment, and greater adoption of innovative practices. The proposed framework provides policymakers with a robust tool for monitoring, benchmarking, and promoting balanced regional industrial development, while also facilitating evidence-based decision-making.