The hypothesis that financial development promotes economic growth enjoys significant support from empirical evidence drawn from both developed and developing countries alike. However, analogous empirical evidence is still lacking for economies in transition. This article analyses the effects of...

1. 30 Years after the Fall of the Berlin Wall: Trends and the Current State of Communism and Post-Communism in Europe and Asia -- 2. A Taxonomy of Post-Communist Economies after 30 Years of Reforms -- 3. The Central Asian Countries’ Economies in the Twenty-First Century -- 4. The...

Since dissolution of the Soviet Union, Uzbekistan and Kazakhstan adopted different approaches to economic reform, particularly in financial sector. Uzbekistan has adopted gradual reforms with minimal liberalisation whereas Kazakhstan embraced bolder reforms with extensive privatisation and...