- International Monetary Fund
- Published Date:
- August 1999
© 1999 International Monetary Fund
Production: IMF Graphics Section
Figures: Theodore F. Peters, Jr.
Typesetting: Alicia Etchebarne-Bourdin
Library of Congress Cataloging-in-Publication Data
Economic reforms in Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan / Emine Gürgen … [et. al.]
p. cm. — (Occasional paper, ISSN 0251-6365; no. 183) Includes bibliographical references (p.).
1. Asia, Central—Economic policy. 2. Asia, Central—Economic conditions. I. Gürgen, Emine. II. Series: Occasional paper (International Monetary Fund); no. 183.
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Ivailo Izvorski and Emine Gürgen
Harry Snoek and Ron van Rooden
Jimmy McHugh and Emine Gürgen
Jon Craig, Ivailo Izvorski, Harry Snoek, and Ron van Rooden
The following symbols have been used throughout this paper:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (for example, 1994–95 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (for example, 1994/95) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
This occasional paper provides an overview of the economic reform experiences of the Central Asian states of the former Soviet Union since their independence at the turn of the decade. The choice of countries—Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan—reflects not only a geographical grouping, but also similarities in the types of transition challenges faced by these countries, notwithstanding considerable variations in their sizes, ethnic compositions, resource endowments, and economic structures. The paper highlights these differences and the impact they may have had on the individual approaches to and progress with economic reforms, while also tracing some of the common threads that run through the transition experience of each country. In this fashion, it attempts to identify a number of key macroeconomic and structural areas where the slower reformers in the group might benefit from the experience of the faster reformers.
The paper was a collaborative project under the leadership of Emine Gürgen. Helpful suggestions were received from John Odling-Smee, Oleh Havrylyshyn, and Leif Hansen. In addition, the authors are indebted to several colleagues in the International Monetary Fund, notably Isaias Coelho, Jens Dalsgaard, Jan Mikkelsen, Johannes Mueller, and Richard Stern for their constructive comments; Sepideh Khazai for research assistance; and Helen John for secretarial work. Helen Chin of the External Relations Department edited the paper and coordinated its production for publication.
The contributions to the paper drew considerably on the work undertaken by the European II Department, in the context of discussions held with the governments of the countries reviewed, on the use of IMF resources and in conducting the annual Article IV consultations. However, the opinions expressed are solely those of the authors and do not necessarily reflect the opinions of the IMF staff, Executive Directors, or the country authorities.