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

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  • Popov, Vladimir

Abstract

Uzbekistan is not usually considered an economic success story, but in fact it is: its GDP increased since 1989 more than in any other post-communist country, except for China, Vietnam and Turkmenistan. The success of Uzbekistan is very much similar to the Chinese – gradual economic reforms with the preservation of the capacity of state institutions, good macroeconomic policy and export oriented industrial policy. What makes Uzbekistan unique is that no other former Soviet republic managed to follow this route. There are countries with healthy state finances and low inflation (most FSU states), there are some countries with reasonable state capacity (Baltics, Belarus, Azerbaijan, Turkmenistan, Kazakhstan), but there are no countries that keep undervalued exchange rate together with strong tax stimuli for export of manufactures. Uzbek example shows that such a policy pays off.

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  • Popov, Vladimir, 2013. "Economic Miracle of Post-Soviet Space: Why Uzbekistan Managed to Achieve What No Other Post-Soviet State Achieved," MPRA Paper 48723, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48723
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    Cited by:

    1. Altanshagai Batmunkh & Agus Dwi Nugroho & Maria Fekete-Farkas & Zoltan Lakner, 2022. "Global Challenges and Responses: Agriculture, Economic Globalization, and Environmental Sustainability in Central Asia," Sustainability, MDPI, vol. 14(4), pages 1-21, February.

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    More about this item

    Keywords

    Transition; Growth; Export orientation; Industrial policy; Uzbekistan;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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