The Central Asian Economies After Independence

The 9/11 attacks, the U.S. invasion of Afghanistan, and the oil boom of recent years have greatly increased the strategic importance of resource-rich Central Asia, making an understanding of its economic--and therefore political--prospects more important than ever. In The Central Asian Economies Since Independence, Richard Pomfret provides a concise and up-to-date analysis of the huge changes undergone by the economies of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the collapse of the Soviet Union in 1991. The book assesses the economic prospects of each country, and the likelihood that economic conditions will spur major political changes. With independent chapters on each country, and chapters analyzing their comparative economic performance, the book highlights similarities and differences. Facing common problems caused by the breakdown of Soviet economic relations and the hyperinflation of the early 1990s, these countries have taken widely divergent paths in the transition from Soviet central planning to more market-based economies. The book ends in 2005 with the bloodless Kyrgyz revolution and the violence in Uzbekistan, which signaled the end of the region's political continuity. Throughout the book, Pomfret emphasizes the economic forces that foster political instability--from Kazakhstan's resource boom and Turkmenistan's lack of reform to Tajikistan's abject poverty.

This book analyzes the Central Asian economies of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, from their buffeting by the commodity boom of the early 2000s to its collapse in 2014. Richard Pomfret examines the countries’ relations with external powers and the possibilities for development offered by infrastructure projects as well as rail links between China and Europe. The transition of these nations from centrally planned to market-based economic systems was essentially complete by the early 2000s, when the region experienced a massive increase in world prices for energy and mineral exports. This raised incomes in the main oil and gas exporters, Kazakhstan and Turkmenistan; brought more benefits to the most populous country, Uzbekistan; and left the poorest countries, the Kyrgyz Republic and Tajikistan, dependent on remittances from migrant workers in oil-rich Russia and Kazakhstan. Pomfret considers the enhanced role of the Central Asian nations in the global economy and their varied ties to China, the European Union, Russia, and the United States. With improved infrastructure and connectivity between China and Europe (reflected in regular rail freight services since 2011 and China’s announcement of its Belt and Road Initiative in 2013), relaxation of United Nations sanctions against Iran in 2016, and the change in Uzbekistan’s presidency in late 2016, a window of opportunity appears to have opened for Central Asian countries to achieve more sustainable economic futures.

The economic, political, and international profile of Central Asia has been the subject of much speculation since the region emerged from under the Soviet banner. This book offers systematic, informed analysis of developments in the newest of emerging market regions by a team of international experts, including leading in-country specialists. After an astute survey of political regimes by Umirserik Kasenov, Boris Rumer and Stanislav Zhukov present a comprehensive analysis of economic development and integrated issues. In the final four chapters, focused attention is devoted to foreign investment and trade questions and the most critical challenges confronting the two largest states, Uzbekistan and Kazakhstan.

This book traces the incorporation of Central Asia into the Soviet system, the region's path of development under socialism, and the vicissitudes of the economic and political collapse of socialism, before considering the trajectories of the new states as they chart their independent futures.

This book is the first general introduction to the economies of central Asia, specifically the recently independent countries of Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan, and Turkmenistan. Richard Pomfret provides a historical and structural analysis of this area of the former Soviet Union, with an emphasis on their economic situation since independence. With the strategic significance of this part of the world growing by the week, this book provides an invaluable source of material for understanding what has been for Westerners a very mysterious part of the world. The first part of the book deals with the five countries' common features, determined by geography and their role in the Soviet division of labor, which left many parts of the region heavily dependent on a cotton monoculture and facing serious environmental problems (notably the shrinking of the Aral Sea and contamination from nuclear testing). The author goes on to deal with the countries as national economies. Finally, he examines common problems facing the countries since they gained independence in late 1991. These last chapters focus on the immediate economic problems of 1992 and 1993 (economic transition and the decision whether to remain within the ruble zone), as well as long-term development issues and international economic relations. Originally published in 1995. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

This work focuses on the challenges facing the newly independent states of Central Asia - Kazakhstan, Uzbekistan, Turkmenistan, Kirgizia and Tadjikistan. It examines the political events and socio-economic changes which followed the disintegration of the Soviet Union.

“Central Asian Economies in Transition focuses on Central Asian countries (Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan and Azerbaijan) and their economic ties with Turkey. The book first summarizes the current state of Central Asian economies, enhanced through statistics and details [of] the economic and political challenges they face. The following parts cover the topics of economic integration and globalization, economic growth and development, international trade, and the energy sector. “Central Asian Economies in Transition is based on selected papers from the series of International Conferences on Eurasian Economies, investigating Central Asian countries in a comparative manner, as well as [on] specially invited articles by prominent academicians; all edited with coherence and exhaustiveness in mind. While some chapters are purely descriptive in nature, others include econometric analyses. “The target audience for Central Asian Economies in Transition is anyone who is interested in Central Asian economies, their transition process towards a market economy regime and their integration to the global world. This includes academicians from any field of social sciences, as well as decision makers, politicians, businessmen and journalists. “I believe that the reader will get a comprehensive picture of the Central Asian economies with specific details highlighted. I would like to take this opportunity to thank the editors for their painstaking efforts during the preparation of this book.” – Halil Seyidoğlu, Professor of Economics, Doğuş University