IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/48723.html
   My bibliography  Save this paper

Economic Miracle of Post-Soviet Space: Why Uzbekistan Managed to Achieve What No Other Post-Soviet State Achieved

Author

Listed:
  • Popov, Vladimir

Abstract

Uzbekistan is not usually considered an economic success story, but in fact it is: its GDP increased since 1989 more than in any other post-communist country, except for China, Vietnam and Turkmenistan. The success of Uzbekistan is very much similar to the Chinese – gradual economic reforms with the preservation of the capacity of state institutions, good macroeconomic policy and export oriented industrial policy. What makes Uzbekistan unique is that no other former Soviet republic managed to follow this route. There are countries with healthy state finances and low inflation (most FSU states), there are some countries with reasonable state capacity (Baltics, Belarus, Azerbaijan, Turkmenistan, Kazakhstan), but there are no countries that keep undervalued exchange rate together with strong tax stimuli for export of manufactures. Uzbek example shows that such a policy pays off.

Suggested Citation

  • Popov, Vladimir, 2013. "Economic Miracle of Post-Soviet Space: Why Uzbekistan Managed to Achieve What No Other Post-Soviet State Achieved," MPRA Paper 48723, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48723
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/48723/1/MPRA_paper_48723.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Trushin, Eskender & Carneiro, Francisco, 2013. "Changing for the Better: The Path to Upper-Middle-Income Status in Uzbekistan," World Bank - Economic Premise, The World Bank, issue 119, pages 1-6, June.
    2. Vladimir Popov, 2000. "Shock Therapy Versus Gradualism: The End Of The Debate (Explaining The Magnitude Of Transformational Recession)," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 42(1), pages 1-57, April.
    3. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-1026, October.
    4. Polterovich, Victor & Popov, Vladimir, 2006. "Эволюционная Теория Экономической Политики: Часть I: Опыт Быстрого Развития [An Evolutionary Theory of Economic Policy: Part I: The Experience of Fast Development]," MPRA Paper 22168, University Library of Munich, Germany.
    5. Surjit S. Bhalla, 2012. "Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequences," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6239, April.
    6. V. Popov, 2011. "To devalue or not to devalue?," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 61(3), pages 255-279, September.
    7. Martin C Spechler, 2000. "Hunting for the Central Asian Tiger," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 42(3), pages 101-120, September.
    8. Eskender Trushin & Francisco G. Carneiro, 2013. "Changing for the Better," World Bank Publications - Reports 22624, The World Bank Group.
    9. Popov, Vladimir, 2010. "To devalue or not to devalue? How East European countries responded to the outflow of capital in 1997-99 and in 2008-09," MPRA Paper 28112, University Library of Munich, Germany.
    10. Dani Rodrik, 2008. "The Real Exchange Rate and Economic Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(2 (Fall)), pages 365-439.
    11. Vladimir Popov, 2007. "Shock Therapy versus Gradualism Reconsidered: Lessons from Transition Economies after 15 Years of Reforms1," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(1), pages 1-31, March.
    12. Polterovich, Victor & Popov, Vladimir, 2005. "Appropriate Economic Policies at Different Stages of Development," MPRA Paper 20066, University Library of Munich, Germany.
    13. Polterovich, Victor & Popov, Vladimir, 2006. "Stages of Development, Economic Policies and a New World Economic Order," MPRA Paper 20055, University Library of Munich, Germany.
    14. V. Popov., 2007. "Shock Therapy versus Gradualism: 15 Years Later," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    15. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
    16. Mr. Jeromin Zettelmeyer, 1998. "The Uzbek Growth Puzzle," IMF Working Papers 1998/133, International Monetary Fund.
    17. Polterovich, Victor & Popov, Vladimir, 2003. "Accumulation of Foreign Exchange Reserves and Long Term Growth," MPRA Paper 20069, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Altanshagai Batmunkh & Agus Dwi Nugroho & Maria Fekete-Farkas & Zoltan Lakner, 2022. "Global Challenges and Responses: Agriculture, Economic Globalization, and Environmental Sustainability in Central Asia," Sustainability, MDPI, vol. 14(4), pages 1-21, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Popov, Vladimir & Chowdhury, Anis, 2015. "What Uzbekistan tells us about industrial policy that we did not know?," MPRA Paper 67013, University Library of Munich, Germany.
    2. V. Popov & В. Попов, 2016. "Секреты И Перспективы Промышленной Политики Узбекистана // What Can Uzbekistan Tell Us About Industrial Policy That We Did Not Already Know," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 4(1), pages 5-25.
    3. Popov, Vladimir, 2010. "Development theories and development experience: half a century journey," MPRA Paper 28111, University Library of Munich, Germany.
    4. Popov, Vladimir, 2019. "Successes and failures of industrial policy: Lessons from transition (post-communist) economies of Europe and Asia," MPRA Paper 95332, University Library of Munich, Germany.
    5. Vladimir Popov, 2009. "Why the West Became Rich before China and Why China Has Been Catching Up with the West since 1949: nother Explanation of the “Great Divergence” and “Great Convergence” Stories," Working Papers w0132, New Economic School (NES).
    6. Vladimir Popov, 2009. "Lessons from the Transition Economies: Putting the Success Stories of the Postcommunist World into a Broader Perspective," WIDER Working Paper Series RP2009-15, World Institute for Development Economic Research (UNU-WIDER).
    7. Popov, Vladimir, 2009. "Mortality Crisis in Russia Revisited: Evidence from Cross-Regional Comparison," MPRA Paper 21311, University Library of Munich, Germany, revised Dec 2009.
    8. Ichiro Iwasaki & Taku Suzuki, 2016. "Radicalism Versus Gradualism: An Analytical Survey Of The Transition Strategy Debate," Journal of Economic Surveys, Wiley Blackwell, vol. 30(4), pages 807-834, September.
    9. Popov, Vladimir, 2015. "Разрыв Между Югом И Западом По Уровню Экономического Развития Сокращается? [Catching up: Developing countries in pursuit of growth]," MPRA Paper 65893, University Library of Munich, Germany.
    10. Popov, Vladimir, 2015. "Catching Up: Developing Countries in Pursuit of Growth," MPRA Paper 65878, University Library of Munich, Germany.
    11. Popov, Vladimir, 2020. "How to Deal with a Coronavirus Economic Recession?," MPRA Paper 100485, University Library of Munich, Germany.
    12. Polterovich, Victor & Popov, Vladimir, 2006. "Stages of Development, Economic Policies and a New World Economic Order," MPRA Paper 20055, University Library of Munich, Germany.
    13. V. Popov, 2013. "Global Imbalances: An Unconventional View," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    14. Popov, V., 2011. "Do We Need to Protect Intellectual Property Rights?," Journal of the New Economic Association, New Economic Association, issue 11, pages 107-126.
    15. Popov, Vladimir, 2023. "US dollar is losing it position of a reserve currency: How the BRICS development bank can ensure the soft landing," MPRA Paper 118342, University Library of Munich, Germany.
    16. Popov, Vladimir, 2024. "Balance of Payments, Exchange Rate, and Foreign Exchange Reserves in China since 1979," MPRA Paper 121627, University Library of Munich, Germany.
    17. n.a.m, Naseem & m.s, Hamizah, 2013. "Exchange Rate Misalignment and Economic Growth: Recent Evidence in Malaysia," MPRA Paper 52447, University Library of Munich, Germany.
    18. Gabor Oblath & Eva Palocz & David Popper & Akos Valentinyi, 2015. "Economic convergence and structural change in the new member states of the European Union Convergence in volumes, prices and the share of services, with implications for wage convergence: an expenditu," CERS-IE WORKING PAPERS 1544, Institute of Economics, Centre for Economic and Regional Studies.
    19. Zainab Jehan & Iffat Irshad, 2020. "Exchange Rate Misalignment and Economic Growth inPakistan: The Role of Financial Development," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 59(1), pages 81-99.
    20. Nauro F. Campos & Abrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 793-836, September.

    More about this item

    Keywords

    Transition; Growth; Export orientation; Industrial policy; Uzbekistan;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:pra:mprapa:48723. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.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.