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https://doi.org/10.1016/j.ruje.2017.09.005
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Central Asia - twenty-five years after the breakup of the USSR
[journal article]
Abstract Central Asia consists of five culturally and ethnically diverse countries that have followed different paths to political and economic transformation in the past 25 years since achieving independence from the Soviet Union. Kazakhstan and Kyrgyzstan have in relative terms made strides in market refor... view more
Central Asia consists of five culturally and ethnically diverse countries that have followed different paths to political and economic transformation in the past 25 years since achieving independence from the Soviet Union. Kazakhstan and Kyrgyzstan have in relative terms made strides in market reforms, while Turkmenistan and Uzbekistan have not yet completed their transitions to market economies. Tajikistan represents an intermediate case. After experiencing more than a decade of growth based on hydrocarbon booms, Central Asian countries are faced with increasing challenges resulting from falling commodity prices, declining trade and lower migrant remittances. The main policy challenge is to move away from commodity-based growth strategies to market-oriented diversification and adoption of a broad spectrum of economic, institutional and political reforms. The major obstacles to political reform and structural diversification in the five Central Asian economies are internal and external geopolitical factors and deeply embedded institutional weaknesses within each country, particularly in areas where economic management interacts with authoritarian political systems and imperfect legal institutions.... view less
Keywords
Central Asia; economic policy; transition
Classification
Social History, Historical Social Research
Economic Policy
Free Keywords
post-communism; economic policy analysis
Document language
English
Publication Year
2017
Page/Pages
p. 296-320
Journal
Russian Journal of Economics, 3 (2017) 3
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0