Abstract
This thesis develops an integrated theoretical and institutional framework for assessing the financial stability of commercial banks in transition and circular-economy conditions, using Uzbekistan's 2020-2025 banking sector reforms as an empirical setting. Building on the theories of Mishkin, Diamond and Dybvig, Stiglitz and Weiss, Lavrushin, Schinasi, and Akimov and Dollery, the study proposes an original definition of financial stability integrating operational, capital, and adaptive stability; systematizes the factors affecting bank stability into five groups - macroeconomic, legal-regulatory, institutional-political, socio-demographic, and internal; and develops a five-tier institutional model linking international standards, state policy, central bank supervision, bank-level risk management, and system-wide stability. It concludes that bank stability indicators in transition economies are shaped as much by external structural conditions as by internal management, and that a hierarchy-based model better explains observed divergences than single-indicator approaches such as CAMELS.
References
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