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Openness and isolation: The trade performance of the former Soviet Central Asian countries
journal contribution
posted on 2016-06-03, 11:14 authored by Arman Mazikeyev, Huw EdwardsHuw Edwards, Marian RizovPrevious studies divide the former Soviet Central Asian countries (CACs) into ‘‘more open’’ (Kazakhstan, Kyrgyzstan) and ‘‘more isolationist’’ (Tajikistan, Turkmenistan and Uzbekistan) depending on their trade-to-GDP ratio. We investigate this by gravity analysis measuring contributions of country-specific properties and networking factors in 185 bilateral CACs trade flows over the period 1995–2011. Our findings suggest that while all CACs have experienced growing trade over the period, they show
considerable variety in initial conditions and transition reforms. The more solationist countries have mostly relied on fortuitous factors such as hikes in natural resource prices to boost their trade, whereas the more open, reform-minded states have achieved considerable trade growth through reducing trade costs. Being an open or isolationist economy has resulted, respectively, in more or less suitable
environment for business and investment.
History
School
- Business and Economics
Department
- Economics
Published in
International Business ReviewVolume
24Issue
6Pages
935 - 947 (13)Citation
MAZIKEYEV, A., EDWARDS, T.H. and RIZOV, M., 2015. Openness and isolation: The trade performance of the former Soviet Central Asian countries. International Business Review, 24(6), pp. 935-947.Publisher
© The Authors. Published by ElsevierVersion
- VoR (Version of Record)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution 4.0 International (CC BY 4.0) licence. Full details of this licence are available at: http://creativecommons.org/licenses/ by/4.0/Acceptance date
2015-08-03Publication date
2015-03-26Notes
This is an Open Access Article. It is published by Elsevier under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/ISSN
1873-6149Publisher version
Language
- en