The Caucasus And Central Asia Transitioning To Emerging Markets
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The Caucasus And Central Asia
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Author : International Monetary Fund. Middle East and Central Asia Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-10
The Caucasus And Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-10 with Business & Economics categories.
The countries in the Caucasus and Central Asia (CCA) have recorded significant macroeconomic achievements since independence. These countries have grown more rapidly-—on average by 7 percent over 1996–2011—-than those in many other regions of the world and poverty has declined. Inflation has come down sharply from high rates in the 1990s and interest rates have fallen. Financial sectors have deepened somewhat, as evidenced by higher deposits and lending. Fiscal policies were broadly successful in building buffers prior to the global crisis and those buffers were used effectively by many CCA countries to support growth and protect the most vulnerable as the crisis washed across the region. CCA oil and gas exporters have achieved significant improvements in living standards with the use of their energy wealth.
China S Belt And Road Initiative
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Author : Harinder S. Kohli
language : en
Publisher: SAGE Publications Pvt. Limited
Release Date : 2020-01-14
China S Belt And Road Initiative written by Harinder S. Kohli and has been published by SAGE Publications Pvt. Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-14 with Business & Economics categories.
China’s Belt and Road Initiative (BRI) is a potential gamechanger for the Central Asia and South Caucasus (CASC) region. CASC countries naturally view this massive development program as a unique opportunity to accelerate their economic development through increased foreign investment, upgraded physical infrastructure, and tighter economic relationships with their neighbors. Yet embracing the BRI is not without risks. Some BRI investments may prove to be fiscally unsustainable, economically and financially unviable, and socially and environmentally harmful. Inadequate cross-border coordination and infrastructure maintenance could render some BRI investments wasteful or redundant. If not proactively addressed, these risks have the potential to leave countries worse off for having participated in the BRI. Policymakers in the CASC region and their development partners, thus, face a daunting question: how to realize the promise of the BRI for their countries while avoiding the pitfalls that lie along the way? This book attempts to answer this question by leveraging the unique insights of development experts in the CASC region. Drawing on the most comprehensive review of BRI investment data conducted to date, this book presents a dynamic policy agenda that is relevant to any country in which China is building the Belt and Road.
Opening Up In The Caucasus And Central Asia
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Author : Mr.Peter J Kunzel
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13
Opening Up In The Caucasus And Central Asia written by Mr.Peter J Kunzel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
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.
Central Asia And The Caucasus
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Author : Werner Hermann
language : en
Publisher: SAGE Publications Pvt. Limited
Release Date : 2011-07-01
Central Asia And The Caucasus written by Werner Hermann and has been published by SAGE Publications Pvt. Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-01 with History categories.
The work provides a clear and yet a thought provoking understanding of the dynamics and challenges of Central Asia and the Caucasus. It aims to raise awareness of the important opportunities and risks which the region faces and represents. However, this book is not only about Central Asia and the Caucasus and its role in Eurasia, it is also written for readers in that region. The book consists of papers that originally served as background documents for a conference of experts and leaders from the region. The goal of the conference was to find practical ways to enhance sustainable growth and welfare in Central Asia.
The Politics Of Transition In Central Asia And The Caucasus
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Author : Amanda E Wooden
language : en
Publisher: Routledge
Release Date : 2009-06-08
The Politics Of Transition In Central Asia And The Caucasus written by Amanda E Wooden and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-08 with Political Science categories.
Most books on the Caucasus and Central Asia are country-by-country studies. This book, on the other hand, fills a gap in Central Eurasian studies as one of the few comparative case study books on Central Eurasia, covering both the Caucasus and Central Asia; it considers key themes right across the two regions highlighting both political change and continuity. Comparative case study chapters, written by regional experts from a variety of methodological backgrounds, provide historical context, and evaluate Soviet political legacies and emerging policy outcomes. Key topics include: the varied types and sources of authoritarianism; political opposition and protest politics; predetermined outcomes of post-Soviet economic choices; social and stability impacts of natural resource wealth; variations in educational reform; international norm influence on gender policy and the power of human rights activists. Overall, the book provides a thorough, up-to-date overview of what is increasingly becoming a significant area of concern.
The Caucasus And Central Asian Republics At The Turn Of The Twenty First Century
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Author : Ian Jeffries
language : en
Publisher: Routledge
Release Date : 2003-09-04
The Caucasus And Central Asian Republics At The Turn Of The Twenty First Century written by Ian Jeffries and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-04 with Business & Economics categories.
This book provides a unique level of coverage of economic and political events of global significance, including foreign trade, foreign direct investment, the impact of oil and natural gas finds, Islamic extremism, the 11 September 2001 terrorist attacks on the United States and the reaction of the CIS countries and the war on international terrorism. It will provide an invaluable source of reference for all those interested in transitional and developing countries. The author presents a clear, detailed and accessible breakdown of the developments in the Caucasus (Armenia, Azerbaijan and Georgia) and the Central Asian republics of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
Promoting Inclusive Growth In The Caucasus And Central Asia
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Author : Ms.Mercedes Vera-Martín
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-15
Promoting Inclusive Growth In The Caucasus And Central Asia written by Ms.Mercedes Vera-Martín and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-15 with Business & Economics categories.
CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined. Most of the progress occurred before the 2008–09 global financial crisis. Since then, poverty rates have barely moved and, for oil importers, remain elevated.
Identifying Structural Reform Gaps In Emerging Europe The Caucasus And Central Asia
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Author : Mr.Norbert Funke
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-30
Identifying Structural Reform Gaps In Emerging Europe The Caucasus And Central Asia written by Mr.Norbert Funke and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-30 with Business & Economics categories.
Using data from the World Economic Forum’s Global Competitiveness Report as an example, this paper compares structural indicators for 25 countries in Emerging Europe, the Caucasus, and Central Asia with a generic country with similar charactersitics that is 40 percent richer as well as a country with the average EU income. This comparison suggests that improvements will be particularly crucial in the areas of institutions, financial market development, infrastructure, goods and labor market efficiency and areas related to innovation. For the generally more ambitious goal of reaching average EU income, the reform needs are correspondingly larger. The methodology focuses on (approximate) comparisons between countries and does not try to establish the link between structural reforms and growth. While we test for changes in empirical specifications, caveats relate to the quality of structural indicators, possible non-linearities, and reform complementarities. The approach can be applied to other indicators and at a more granular level.
Development In Central Asia And The Caucasus
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Author : Sophie Hohmann
language : en
Publisher: Bloomsbury Publishing
Release Date : 2014-06-25
Development In Central Asia And The Caucasus written by Sophie Hohmann and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-25 with Political Science categories.
After the final collapse of the Soviet Union, the so-called 'last empire', in 1991, the countries of Central Asia - Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkmenistan - and of the Caucasus - Armenia, Azerbaijan, Georgia - became independent nations. These countries, previously production centres under the socialist planning system of the Soviet Union, have made enormous economic adjustments in order to develop - or attempt to develop - along capitalist lines. As this study will show, however, inequality in Central Asia and the Caucasus is widening, as the Soviet systems of healthcare and state provisions disappear. Rejecting the Cold War-era East/West paradigm often used to analyse the development of these nations, this study analyses development along the North-South lines which characterise the migration patterns and poverty levels of much of the rest of the developed world. This opens up new avenues of research, and helps us understand why it is, for instance, that this region is better characterised as a 'new South' - as skilled workers flood out of the territories and into Russia and Western Europe. Development in Central Asia and the Caucasus draws together detailed analyses of the development of migration economics as the region's oil wealth further enhances its strategic and economic importance to Russia, the US, the Middle East and to the EU.
Strengthening Monetary Policy Frameworks In The Caucasus And Central Asia
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Author : Mr. Tigran Poghosyan
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-28
Strengthening Monetary Policy Frameworks In The Caucasus And Central Asia written by Mr. Tigran Poghosyan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-28 with Business & Economics categories.
Amidst a global backdrop of persistent post-COVID inflation and spillovers from Russia’s war in Ukraine, the countries of the Caucasus and Central Asia (CCA) region have faced strong price pressures in recent years. Inflation is estimated to have peaked in early 2023, but still exceeds central bank targets. In particular, core inflation remains stubbornly high reflecting a combination of second-round effects, surges in global energy and food prices, and domestic demand pressures. More broadly, uncertainty and downside risks also weigh on the economic outlook, including due to regional tensions, financial turmoil related to international monetary policy normalization, and a growth slowdown in key trading partners. In this context, CCA countries’ ability to contain inflationary pressures and anchor inflation expectations hinges on the credibility and effectiveness of their monetary policy frameworks. Since gaining independence in the 1990s, countries in the CCA region have made considerable progress in modernizing their monetary policy frameworks. CCA central banks have strengthened their legal frameworks and established broad de-jure independence. Armenia, Georgia, Kazakhstan, the Kyrgyz Republic, and Uzbekistan are transitioning to inflation targeting regimes, while the central banks of Azerbaijan, Tajikistan, and Turkmenistan rely on the exchange rate as an operational target. However, the post-COVID surge in inflation has highlighted the limitations of current frameworks and triggered a fresh policy debate on the need to strengthen monetary policy effectiveness in the CCA. This paper reviews the CCA region’s monetary policy landscape, highlights challenges in monetary policy design and implementation, and identifies areas that warrant strengthening. It draws on original surveys of country authorities, IMF country teams, and the work by Unsal and others (2022). It uses novel empirical work to analyze monetary policy transmission, the link between foreign exchange interventions and exchange rate dynamics, the drivers of financial de-dollarization, and the effects of central bank communication in the CCA.