The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan …, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional …

, bilateral economic interactions like trade, FDI and portfolio investment, positively correlate with lending. Chinese banks …' lending to EMDEs also strongly correlates with trade, but not with FDI and, unlike other banks, it correlates negatively with …

disentangle effects from various channels that interact at the same time, such as flows of tourists, trade of goods, and changes …

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple … minimum, Uzbekistan would benefit from moving to an explicit fiscal regime …

What explains Uzbekistan’s unusually mild “transformational recession” and its moderate recovery during 1996-97? We … resources, and public investment policies—and sectoral output developments. The main findings are (i) Uzbekistan’s relatively …; (iii) the mildness of Uzbekistan’s transitional recession can be accounted for by its favorable initial production …

Since independence in 1991, Uzbekistan has pursued a gradual approach to the transition from planned to market economy …. This approach relied heavily on trade controls, directed credit, and large public investments. A number of financial sector …

After the break-up of the Soviet Union, Uzbekistan’s output fell less than in any other former Soviet Republic, and … underpredicts Uzbek growth from 1992-1996, confirming the view that Uzbekistan’s performance consitutes a puzzle. It then attempts … to resolve the puzzle by appropriately extending the model. The main result is that Uzbekistan’s output performance was …

This paper analyzes the monetary policy framework in Kazakhstan. The authorities have been successful in containing …