Resource management and transition in Central Asia, Azerbaijan and Mongolia

Richard Pomfret

Journal of Asian Economics, 2012, vol. 23, issue 2, 146-156

Abstract: This paper analyses resource management experiences of seven resource-rich Asian transition economies. The countries’ experiences illustrate that a series of hurdles need to be surmounted to benefit from resource abundance, and that neither the similar initial institutions nor those created in the 1990s were immutable. For Uzbekistan and Turkmenistan the ability to earn revenue from cotton exports permitted avoidance of reform. Oil in Azerbaijan and Kazakhstan was associated with large-scale corruption, but with soaring revenues in the 2000s their institutions evolved and to some extent improved. Kyrgyzstan and Mongolia illustrate the challenge facing a small economy with a large potential mineral resource, with the former suffering from competition for rents among the elite and the latter from lost opportunities.

Keywords: Natural resources; Central Asia; Mongolia (search for similar items in EconPapers)
JEL-codes: O13 P35 Q32 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (9)

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Working Paper: Resource Management and Transition in Central Asia, Azerbaijan, and Mongolia (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:23:y:2012:i:2:p:146-156

DOI: 10.1016/j.asieco.2011.08.004

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