Resource management and transition in Central Asia, Azerbaijan and Mongolia
AbstractThis paper analyses resource management experiences of seven resource-rich Asian transition economies. The countries’ experiences illustrate that a series of hurdles need to be surmounted to benefit from resource abundance, and that neither the similar initial institutions nor those created in the 1990s were immutable. For Uzbekistan and Turkmenistan the ability to earn revenue from cotton exports permitted avoidance of reform. Oil in Azerbaijan and Kazakhstan was associated with large-scale corruption, but with soaring revenues in the 2000s their institutions evolved and to some extent improved. Kyrgyzstan and Mongolia illustrate the challenge facing a small economy with a large potential mineral resource, with the former suffering from competition for rents among the elite and the latter from lost opportunities.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Asian Economics.
Volume (Year): 23 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/asieco
Natural resources; Central Asia; Mongolia;
Other versions of this item:
- Richard Pomfret, 2011. "Resource Management and Transition in Central Asia, Azerbaijan, and Mongolia," Working Paper Series WP11-8, Peterson Institute for International Economics.
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
- P35 - Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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