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Macroeconomic Results of 20 Years of Transformation in CIS Countries: The Role of Investments

Author

Listed:
  • Golovnin, M.

    (Institute of Economics, Russian Academy of Sciences, Moscow, Russia
    Moscow School of Economics, Moscow State University, Moscow, Russia)

  • Ushkalova, D.

    (Institute of Economics, Russian Academy of Sciences, Moscow, Russia)

Abstract

The last more than 20 years of economic transition in CIS countries led to different results for different countries. Leader countries by economic dynamics (Turkmenistan, Armenia, Azerbaijan, Uzbekistan, Belarus, Kazakhstan) could surpass global economic growth trend for the period 1992- 2012. The main factor of their success was achievement of high investment/GDP ratio, which allowed for acceleration of economic growth on separate time periods.

Suggested Citation

  • Golovnin, M. & Ushkalova, D., 2014. "Macroeconomic Results of 20 Years of Transformation in CIS Countries: The Role of Investments," Journal of the New Economic Association, New Economic Association, vol. 21(1), pages 200-205.
    • Handle: RePEc:nea:journl:y:2014:i:21:p:200-205
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    References listed on IDEAS

    as
    1. Franklin Allen & Douglas Gale (ed.), 2008. "Financial Crises," Books, Edward Elgar Publishing, number 3141.
    2. Alexander Salhi & Andreas Kern & Martin Rößler, 2010. "Growth Patterns in the CIS-8: A Political Economy Approach," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(4), pages 686-708, December.
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    More about this item

    Keywords

    CIS countries; comparative economic analysis; economic growth; investments;
    All these keywords.

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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