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  • State's role in the economy and governance: seeking for optimal balance

State's role in the economy and governance: seeking for optimal balance

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Duration: June 2014 - May 2015

State's role in the economy and governance: seeking for optimal balance

Uzbekistan enters a new stage of reforms, which is mainly associated with the revision of the size of government and its role in the socio-economic processes. The necessity of reforms is obvious, and, in this turn, the positions of the state, private sector and society as a whole are the same. But the fundamental question is whether to reduce the size of the state, its role in the economy, and in the development processes or to create conditions for the quantitative and qualitative growth of the private sector.

The state, as before, should continue initiating the reforms, carrying out its development function; otherwise, it will be difficult to talk about the creation of stable and dynamically developing industrial economy in Uzbekistan. However, the quality of state presence in the economy as the owner of the assets, as market participant, as regulator should change.

The issue of role of the state in the economy and development in general is perhaps one of the most debated among policy makers and researchers. A new burst of discussions was given by the global financial and economic crisis.