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Middle East and Central Asia > Uzbekistan, Republic of

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Cover IMF Working Papers
SME Financial Inclusion for Sustained Growth in the Middle East and Central Asia
Mishel Ghassibe
,
Maximiliano Appendino
, and
Samir Elsadek Mahmoudi
This paper offers empirical evidence that greater financial inclusion of small and medium enterprises (SMEs) can promote higher economic growth and employment, especially in the Middle East and Central Asia regions. First, we show that countries with higher SME financial inclusion exhibit more effective monetary policy transmission and tax collection. Second, we find substantial employment and labor productivity growth gains at the firm level from access to credit, gains that are higher for SMEs. We also obtain evidence of a substantial positive impact on SME employment and labor productivity growth from improved credit bureau coverage and insolvency regimes. Finally, cross-country aggregate evidence confirms the employment and growth gains from SME financial inclusion, which appear larger in the Middle East and Central Asia than in other regions.
Keywords:
WP; SME financial inclusion; Small and Medium Sized Enterprises; Financial Inclusion; Economic Growth; monetary policy transmission; growth gain; output gap; SME Financial inclusion index; labor productivity gain; SME employment; employment growth; Small and medium enterprises; Labor productivity; Productivity; Employment; Middle East and Central Asia
Cover IMF Staff Country Reports
Republic of Uzbekistan: Interim Poverty Reduction Strategy Paper
International Monetary Fund
This paper reviews Uzbekistan’s Interim Welfare Improvement Strategy Paper (I-WISP). I-WISP defines the main directions and measures aimed at improving living standards and reducing poverty among the population of Uzbekistan for 2005–10. The strategy is designed to further expand reforms in all aspects of life in the society based on the national model of economic and social development, the social values of the people of Uzbekistan, and their commitment to the processes of integration into the world community.
Keywords:
ISCR; CR; economic policy; job creation; public utility; steering committee; economic growth; private sector; small business; foreign trade; economic development; working group; civil society; Employment; Central Asia