Output Decline and Recovery in Uzbekistan - Past Performance and Future Prospects |
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| Author:
| Zettelmeyer, Jeromin
Taube, Gnther |
| ISBN: | 978-1-4518-5535-7 |
| Publication Date: | Sep 1998 |
| Publisher: | International Monetary Fund
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| Book Format: | Paperback |
| List Price: | AUD $23.95 |
Book Description:
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What explains Uzbekistan's unusually mild "transformational recession" and its moderate recovery during 1996-97? We examine potential biases in output measurement, the role of "special factors"--including initial production structure, natural resources, and public investment policies--and sectoral output developments. The main findings are (i) Uzbekistan's relatively favorable output record is not an artifact of measurement alone; (ii) public investment has had no significant effects...
More DescriptionWhat explains Uzbekistan's unusually mild "transformational recession" and its moderate recovery during 1996-97? We examine potential biases in output measurement, the role of "special factors"--including initial production structure, natural resources, and public investment policies--and sectoral output developments. The main findings are (i) Uzbekistan's relatively favorable output record is not an artifact of measurement alone; (ii) public investment has had no significant effects on growth; (iii) the mildness of Uzbekistan's transitional recession can be accounted for by its favorable initial production structure and its self-sufficiency in energy; (iv) unless reforms are significantly accelerated, medium-term growth prospects are mediocre.