Economic Transformation in Central Asia: A Journey of Twenty-five Years

Raj Yadav

International Studies, 2016, vol. 53, issue 3-4, 286-304

Abstract: Disintegration of the Soviet state was unanticipated in Central Asia and the new independent states were unprepared. The end of central planning in the late 1980s led to transitional recession and this got worse with the dissolution of the USSR. In this difficult situation, the five countries moved at different paces to stabilize their economies and establish market-based system. During transition era, Central Asian states introduced stabilization and structural reforms in the form of monetary policy, introduction of national currencies, price liberalization, privatization and fiscal reforms. Kazakhstan and Kyrgyzstan lead by introducing various reforms while Uzbekistan and Turkmenistan lagged behind and were slow reformers. Tajikistan was one state that suffered due to internal civil war. These stabilization and structural reforms produced mixed results for Central Asian states. Present study will provide an overview of the journey of 25 years of the five Central Asian states since independence, their experience with the reforms and their performance in the region.

Keywords: Command economy; market economy; transition; stabilization and structural reforms; liberalization; privatization (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0020881718762185 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:intstu:v:53:y:2016:i:3-4:p:286-304

DOI: 10.1177/0020881718762185

Access Statistics for this article

More articles in International Studies
Bibliographic data for series maintained by SAGE Publications ().