economics of transformational countries

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презентация powerpoint l.18. economics of transformational countries bakhtiyor islamov doctor of economic sciences, professor, tashkent branch of “russian economic university after g.v. plekhanov”, tashkent state economic university jаnuary 22, 2018 1. theoretical approaches to systemic transformation. - “shock therapy” (russia) - gradualism (china) 2. systemic transformational traps - transition traps - globalization traps 2. central asian “puzzles” “uzbek puzzle”. “kyrgyz puzzle”. 3. conclusions. 1. the theoretical approaches the systemic transformation, in fact, appeared to be a much more complex and lengthy than initially expected. it is difficult to agree with the dominating explanations proposed by the “mainstream” policy researchers. transformation problems are heavier in the countries that have failed to implement properly recommended policies. [sachs and woo (1994), balcerovicz (1995), aslund (1995, 2001), havrylyshin, wolf et al., (2000) and others]. 1. the theoretical approaches summarizing the experience of the first decade of transition j. stiglitz [(1999), p.1] noted that: “failures …

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retical approaches the author suggested alternative approach: macro-economic stabilization, structural adjustment policies and institutional building are necessary, but not sufficient. in order to make them efficient each state, needs to find proper speed and sequence of reforms, and implement them properly. it is necessary based on thorough examination of their initial conditions and long-term goals to formulate tailor made strategy for each state. [b. islamov (1998), (1999), (2000), (2001)]. 1. the theoretical approaches methodologically this position was backed up by the original study of transformational ‘traps’ they emerge when transition is based neither on a certain level and character of political, economic and social institutions nor on the readiness of a state and people to make appropriate use of new opportunities. in the case of systemic transformation, the chosen strategy and policies, recommended and implemented, in majority of the cis countries appeared to be fraught with completely different implications and …

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n transition was able to avoid them. the degree of negative effect of traps could be judged by the depth and length of output and income decline. 1. the theoretical approaches it has obtained the most full-fledged forms in countries, which introduced the most radical forms of “shock therapy” with much less prior experience of market reforms: russia and the majority of other nis as well as in less developed cee countries). based on comparative analysis professor y. nishimura (2000), proved the fact that reforms in russia were much more radical, than not only in hungary but poland as well. “the transition had a longer history, the policies for liberalization and macro-economic stabilization implemented more gradually.” 1. the theoretical approaches in the second decade of systemic transformation set of institutions were suggested by different economists. i. iwasaki at that time applied institutional approach to russia-ca economic relations, and to “transition …

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h. w. hoen (2013)]. 2. central asian states “puzzles” it is known, that “mainstream” monetarist approaches still dominates numerous policy circles, think tanks and experts of the imf, world bank, ebrd. from their viewpoint still “the output records of uzbekistan …present a challenge to the standard transition paradigm” [s. fisher, r. sahay (2000) p.18] “puzzle”- taube and zettelmeyer, zettelmeyer (1998). although afterwards several other books has been published more about the “uzbek model”, “ uzbek paradox”, “uzbek path” by r. pomfret (2000), (2006), g. gleason (2003), m. spechler (2004, 2008)] from slightly different positions. but “uzbek puzzle” has not been fully discovered yet. ch 1. dynamics of gdp in transformational countries, 1989-2013(%) source: ebrd data [see, v. popov (2013), (ce-unweighted average for the czech republic, hungary, poland, slovakia and slovenia)]. 2. central asian states “puzzles” now the ebrd transition report “stuck in transition?” (2013) has introduced a reversed kyrgyz “puzzle”. …

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ted for different strategies. as a result, today among them, there are early and late starters, cases of outcomes of the ‘shock therapy’ approach and ‘gradualism’, as well as a country with minimal reforms implemented among all transitional states. 2. central asian states “puzzles” central asian countries, in addition to the problems common to the majority of transitional economies, have had the features of developing countries. besides, almost from the outset they were hit by rapid disintegration of highly interdependent economy of fsu. the complex combination of development, disintegration, transformation, and globalization problems provide a basis on which to carry out a careful comparative analysis of the overall results of reforms and major contributors to the successes and failures within these decades in the ca and require tailor made policies to address them. so, from these positions the performance of ca states since independence is analyzed and compared [see more …

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презентация powerpoint l.18. economics of transformational countries bakhtiyor islamov doctor of economic sciences, professor, tashkent branch of “russian economic university after g.v. plekhanov”, tashkent state economic university jаnuary 22, 2018 1. theoretical approaches to systemic transformation. - “shock therapy” (russia) - gradualism (china) 2. systemic transformational traps - transition traps - globalization traps 2. central asian “puzzles” “uzbek puzzle”. “kyrgyz puzzle”. 3. conclusions. 1. the theoretical approaches the systemic transformation, in fact, appeared to be a much more complex and lengthy than initially expected. it is difficult to agree with the dominating explanations proposed by the “mainstream” policy researchers. transformation problems are heavier in the countr...

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