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Differing Effects of the Global Financial Crisis on the Central Asian Countries: Kazakhstan, the Kyrgyz Republic and Uzbekistan

Ruziev, Kobil; Majidov, Toshtemir

Authors

Kobil Ruziev Kobil.Ruziev@uwe.ac.uk
AHOD in UG Accounting & Economics Prog Clus

Toshtemir Majidov



Abstract

Kazakhstan, the Kyrgyz Republic and Uzbekistan are neighbouring countries in post-Soviet Central Asia which share similar culture and language. Their economic structures were similar under central planning: they provided the agricultural basis to the Soviet economy. But, since independence, these economies have grown structurally more heterogeneous due to variations in the implementation of market-oriented reforms, the degree of integration into the global economy and natural resource endowment. This article attempts to demonstrate how this heterogeneity can explain the differing effects of the recent Global Financial Crisis on these countries' economies in general and in the banking sector in particular. © 2013 Copyright University of Glasgow.

Journal Article Type Article
Publication Date Jun 1, 2013
Journal Europe - Asia Studies
Print ISSN 0966-8136
Electronic ISSN 1465-3427
Publisher Taylor & Francis (Routledge)
Peer Reviewed Peer Reviewed
Volume 65
Issue 4
Pages 682-716
APA6 Citation Ruziev, K., & Majidov, T. (2013). Differing Effects of the Global Financial Crisis on the Central Asian Countries: Kazakhstan, the Kyrgyz Republic and Uzbekistan. Europe-Asia Studies, 65(4), 682-716. https://doi.org/10.1080/09668136.2013.766044
DOI https://doi.org/10.1080/09668136.2013.766044
Keywords Central Asia, financial sector, Kazakhstan, Uzbekistan
Publisher URL http://dx.doi.org/10.1080/09668136.2013.766044