本稿では,移行改革の進度が遅いのにも関わらず、中小企業が急速な発展を遂げているウズベキスタンにおいて,中小企業政策の形成とその後の改革の進行に対応した政策転換が果たした役割を検証する。まず同国の中小企業政策が,2000年以降の改革の深化に対応し,過剰な規制や参入障壁の撤廃に重点を置く方針へと転換し、この規制緩和が改革の進行との相乗効果を生み,中小企業発展を大きく促進した事を詳細な資料を用いて明らかにする。, This article explores the consequences of the changes in SME (Small and Medium-sized Enterprise) policies made in Uzbekistan. First, we describe the primary characteristics of the SME policies formed at the early stages of transition. Following this, we argue that in the later period, SME policies were modified in response to the acceleration of the transitional reforms started in 2000. We end by concluding that SME policies in Uzbekistan had substantial complementarities with overall transitional reforms, enabling small firms to exploit the opportunities generated by privatization and deregulation.