Economic Miracle of Post-Soviet Space: Why Uzbekistan Managed to Achieve What No Other Post Soviet State Achieved

Popov, Vladimir

doi:10.2139/ssrn.2303867

Cited by 14 publications

(11 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…It also permits us to weight the pros and cons of both the "shock therapy" and gradualist approaches in all spheres. It requires us to search for better strategies, combining the strengths of the state and market, growth and distribution, more openness with a readiness to provide protection against external shocks whenever it will be necessary [21,22].…”

Section: Resultsmentioning

confidence: 99%

Liberalization of Exchange Rate Policies: International Experiences and Lessons for Uzbekistan

Islamov¹,

Ziyadullaev²,

Ziyadullaev³

et al. 2018

MEP

View full text Add to dashboard Cite

Goals/objectives. Analysis of international experiences in exchange rate liberalization with the aim of extracting the necessary lessons for Uzbekistan. Methodology. Comparative analysis. Results. Comparative analysis of both positive and negative experiences of foreign states in exchange rate liberalization permits to extract certain lessons. The most important of which is the introduction of exchange rates reforms requires several steps. The first step is unification of exchange rates. The second step is free access to physical and legal persons to currency convertibility by commercial banks. The third step is to make currency freely convertible for current account transactions. Finally, without haste though, liberalization of capital accounts. A favorable internal and external environment is important for the proper timing of such reforms. The current liberalization of exchange rates in Uzbekistan envisaged by the Strategy of actions will be successful if proper lessons are drawn from its own and world experiences. Application. The proposed step-by-step method can be used in further liberalization of the exchange rate in Uzbekistan. Conclusion/significance. The authors suggest their own сonclusions and approach for solving the dilemma between the "big bang" and "crown" concepts, one recommending not to start but also not to wait up to the end of reforms. The suggestion is to find a particular mix of government and market instruments, efficient and timely gradual steps related to exchange rate liberalization in each state and implement a currency convertibility consequently in the most appropriate time from viewpoint of domestic and external environment.

show abstract

Section: Resultsmentioning

confidence: 99%

Liberalization of Exchange Rate Policies: International Experiences and Lessons for Uzbekistan

Islamov¹,

Ziyadullaev²,

Ziyadullaev³

et al. 2018

MEP

View full text Add to dashboard Cite

show abstract

“…18 As an infant industry, however, the automotive industry is highly protected. Imported cars, buses and trucks are subject to high custom duties, which can vary depending on year of manufacturing, country of origin and engine volume (Popov 2013;Popov & Chowdhury 2016). There are many precedents for protectionist policies towards fledging industries: Japan protected its car industry for nearly four decades (Lin & Chang 2009).…”

Section: Main Economic Policies and Outcomesmentioning

confidence: 99%

Uzbekistan’s Development Experiment: An Assessment of Karimov’s Economic Legacy

Ruziev

2021

Europe-Asia Studies

View full text Add to dashboard Cite

Uzbekistan's unique post-independence experiment with development was led by Islam Karimov until his sudden death in September 2016. Despite defying international advice on structural reforms, under Karimov's rule, Uzbekistan achieved an average annual growth rate of 5% in the period 1996-2016, which was particularly impressive (over 8%) in [2004][2005][2006][2007][2008][2009][2010][2011][2012][2013][2014][2015][2016]. Karimov also left behind strong macroeconomic fundamentals for his successor. Since taking over the presidency in December 2016, Shavkat Mirziyoyev has introduced wide-ranging reforms, creating an impression of a de facto start to transition in Uzbekistan. This study analyses Karimov's economic legacy and assesses whether it has enabled or hindered the developmental targets set by his successor. UZBEKISTAN'S DEVELOPMENT EXPERIENCE IS UNIQUE. IN the early 1990s, while most transition economies followed reform policy packages promoted by international financial institutions (IFIs), Uzbekistan stubbornly insisted on choosing its own model of gradual development. Since financial aid and technical support from the international community are often conditional on adopting a variation of reform packages recommended by IFIs, Uzbekistan lost access to these resources at a crucial moment in its development path. Nevertheless, the country experienced the shallowest output fall amongst its peers in the 1990s and managed to maintain an impressive average annual growth rate of over 8% in the 2004-2016 period, which puzzled many neoliberal economists. Over time, however, perhaps also emboldened by the success of its economic policies, the government became increasingly isolationist in its international relations and authoritarian in its domestic affairs (Akimov 2015). This eventually led to the excessive centralisation of power under the rule of Islam Karimov and the government essentially became a personalist dictatorship.Karimov came to power in 1989, with the blessing of Mikhail Gorbachev, as the first secretary of the Communist Party in Uzbekistan. He became the first president of

show abstract

“…Uzbekistan created a car industry from the ground up. Today, this industry produces more than 200 thousand cars with their engines, half of which are exported (Popov, 2014a). It is an undisputable success of industrial policy; a breakthrough to world markets with the products of a medium level research intensity, previously achievable only by countries of a higher level development.…”

Section: Concluding Remarks a Lessons From Uzbekistanmentioning

confidence: 99%

What Can Uzbekistan Tell Us about Industrial Policy that We Did Not Already Know?

Popov¹,

Chowdhury²

2016

UN Department of Economic and Social Affairs (DESA) Working Papers

View full text Add to dashboard Cite

This paper discusses Uzbekistan's recent experience with structural shifts and industrial policy and the larger implications for existing theories of industrial policy. The paper has a particular focus on various industry policy instruments. Two major hypotheses are discussed: (1) the hypothesis of Haussmann, Hwang and Rodrik (the more technologically sophisticated the export structure, the better for growth) and (2) the hypothesis of Justin Yifu Lin (export specialization should build on existing comparative advantages and not jump over the necessary technological stages).

show abstract

Economic Miracle of Post-Soviet Space: Why Uzbekistan Managed to Achieve What No Other Post Soviet State Achieved

Cited by 14 publications

References 15 publications

Liberalization of Exchange Rate Policies: International Experiences and Lessons for Uzbekistan

Liberalization of Exchange Rate Policies: International Experiences and Lessons for Uzbekistan

Uzbekistan’s Development Experiment: An Assessment of Karimov’s Economic Legacy

What Can Uzbekistan Tell Us about Industrial Policy that We Did Not Already Know?

Contact Info

Product

Resources

About