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Economic Performance in Central Asia Since 1991: Macro and Micro Evidence1

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  • Richard Pomfret

    (School of Economics, Adelaide University, Australia.)

Abstract

How should the economic performance of the Central Asian countries during the 1990s be measured? The most commonly used indicator is GDP, even though GDP estimates for transition economies are known to suffer from conceptual and methodological shortcomings. This paper combines national accounts estimates and household survey results to assess the biases in GDP measures as indicators of economic well-being. The main conclusion is that, although per capita consumption fell during the first half of the 1990s, the decline was not as drastic as GDP estimates suggest. Although the cardinal measures are subject to scepticism, the ordinal ranking of the five Central Asian countries' performance is clearer, at least to the extent of dividing them into better (Kazakhstan, the Kyrgyz Republic and Uzbekistan) and worse (Tajikistan and Turkmenistan) performers. Comparative Economic Studies (2003) 45, 442–465. doi:10.1057/palgrave.ces.8100029

Suggested Citation

  • Richard Pomfret, 2003. "Economic Performance in Central Asia Since 1991: Macro and Micro Evidence1," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 45(4), pages 442-465, December.
    • Handle: RePEc:pal:compes:v:45:y:2003:i:4:p:442-465
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    Cited by:

    1. Edward R. Gemayel & David A. Grigorian, 2006. "How Tight is Too Tight? A Look at Welfare Implications of Distortionary Policies in Uzbekistan," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 239-261, December.
    2. Boris Najman & Richard Pomfret & Gael Raballand & Patricia Sourdin, 2005. "How are Oil Revenues redistributed in an Oil Economy? The case of Kazakhstan," Development and Comp Systems 0512012, University Library of Munich, Germany.
    3. Mirzobobo Yormirzoev, 2022. "Economic Growth and Productivity Performance in Central Asia," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 64(3), pages 520-539, September.

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