The Puzzling Success of Uzbekistan's Heterodox Development


The Puzzling Success of Uzbekistan's Heterodox Development

Development Viewpoint on the Puzzling Success of Uzbekistan’s heterodox development has been released by the Center for Development Policy & Research, SOAS, University of London. The background paper for this Development Viewpoint was prepared with the support of CER research group.

The CDPR Director, Mr. Terry McKinley, analyzes Uzbekistan's process of economic transition and development, referring it as "a frustrating puzzle" to many orthodox economists. According to the author, “Beginning early in its transition to a more market-based economic system, Uzbekistan became well known for its heterodox economic policies…The country has been repeatedly barraged with prophecies of its imminent failure. And yet it has managed—judging by many standard economic measures—to enjoy a significant degree of success. This has been a source of repeated puzzlement in orthodox circles.”

Article explores the Uzbekistan’s policy towards IMF recommendations, the impact of the crisis of the late 1990s, and the insignificant effect of the Global crisis. In conclusion, Mr. McKinley express his view, as follows: “Yet by any standard barometers of economic performance—as well as by comparison with other low-income countries—Uzbekistan has been relatively successful over two decades of transition and development, though its achievements appear to remain a frustrating puzzle to many orthodox economists.”

The Publication is also available at CDPR website.

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