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Kazakhstan’s Economic Transformation, 1989–2007

In: Social Security Reform in Transition Economies

Author

Listed:
  • Charles M. Becker
  • Grigori A. Marchenko
  • Sabit Khakimzhanov
  • Ai-Gul S. Seitenova
  • Vladimir Ivliev

Abstract

The story of Kazakhstan’s transition offers several insights into the conduct of economic policy and the factors that shape it. Macroeconomic policies usually take center stage in developed countries’ economic policy discussions. In transition economies, macroeconomic stabilization is only a part of a larger package of economic reforms aimed at institutional development taken for granted in established market economies. The experience of Kazakhstan and other transition economies suggests that macroeconomic policy effectiveness depends crucially on the success of structural reforms and that neglecting microeconomic and institutional policies jeopardizes the sustainability of macroeconomic achievements. Thus, it is important to place Kazakhstan’s macroeconomic patterns in the context of the sweeping restructuring that transformed a centrally planned province of the Soviet Union to an independent, market-based economy.

Suggested Citation

  • Charles M. Becker & Grigori A. Marchenko & Sabit Khakimzhanov & Ai-Gul S. Seitenova & Vladimir Ivliev, 2009. "Kazakhstan’s Economic Transformation, 1989–2007," Palgrave Macmillan Books, in: Social Security Reform in Transition Economies, chapter 5, pages 87-109, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-61802-2_5
    DOI: 10.1057/9780230618022_5
    as

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