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Impacts on expansion of a breakthrough in development of the country

06.04.2015

Impacts on expansion of a breakthrough in development of the country

For a 20-year transition period Uzbekistan managed to enter the group of the lower segment of middle-income countries. The main task of the country’s development on the new stage is to ensure sustainable economic growth of 7-8% per year, and to reach a level of development comparable with countries in the top segment of this group by 2030.

Maintaining such high growth involves the need to implement the structural transformation of the economy with increasing the share of the services sector from 45% to 55%, the share of manufacturing – from 9% to 22%. On the one hand, such dramatic changes in the economy will involve large-scale transformations of society, values ​​and behavior stereotypes of people. On the other hand, to make these changes possible, a specific set of social and cultural characteristics is necessary.

Empirical studies show that informal institutions (values ​​and behavior stereotypes) are among the most important factors determining the potential for transformation of the economy and economic growth. For example, as a result of the estimates by Inglehart method, the focus on self-realization and growth of individualism in society have been an important factor of economic success in a number of countries.

There are several hypotheses concerning social and cultural codes in the economy. What are they? In the new research, we plan to study how the socio-cultural portraits were transformed in different countries, which managed to ensure the rapid transformation and a significant acceleration of growth over the last decade. Join our discussion and share your opinion on our Transformation Blog.