IDEAS home Printed from https://ideas.repec.org/p/imf/imfdps/2018-007.html
   My bibliography  Save this paper

Opening Up in the Caucasus and Central Asia: Policy Frameworks to Support Regional and Global Integration

Author

Listed:
  • Mr. Peter J Kunzel
  • Phil De Imus
  • Mr. Edward R Gemayel
  • Risto Herrala
  • Mr. Alexei P Kireyev
  • Farid Talishli

Abstract

The Caucasus and Central Asia (CCA) countries are at an important juncture in their economic transition. Following significant economic progress during the 2000s, recent external shocks have revealed the underlying vulnerabilities of the current growth model. Lower commodity prices, weaker remittances, and slower growth in key trading partners reduced CCA growth, weakened external and fiscal balances, and raised public debt. the financial sector was also hit hard by large foreign exchange losses. while commodity prices have recovered somewhat since late 2014, to boost its economic potential, the region needs to find new growth drivers, diversify away from natural resources, remittances, and public spending, and generate much stronger private sector-led activity.

Suggested Citation

  • Mr. Peter J Kunzel & Phil De Imus & Mr. Edward R Gemayel & Risto Herrala & Mr. Alexei P Kireyev & Farid Talishli, 2018. "Opening Up in the Caucasus and Central Asia: Policy Frameworks to Support Regional and Global Integration," IMF Departmental Papers / Policy Papers 2018/007, International Monetary Fund.
    • Handle: RePEc:imf:imfdps:2018/007
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=45910
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfdps:2018/007. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.