Central Asia's Economy: Mapping Future Prospects to 2015
Dowling, Malcolm; Wignaraja, Ganeshan | April 2006
Abstract
The growth performance of small, land-locked Central Asian economies has been among the world’s fastest since the 1990s due to high-priced commodities (including oil and natural gas), strategic location, reasonable infrastructure, and human capital. The short-term economic prospects of Central Asian economies appear bright but long-term prospects may be less certain with a growing divergence between oil exporters (Azerbaijan, Kazakhstan, and Turkmenistan) and non-oil exporters (Kyrgyz Republic, Tajikistan, and Uzbekistan). This paper reviews their recent economic performance, projects key economic variables to 2015 against a constant global background, and discusses policy implications. Exploring various scenarios (“business as usual”, “closing the gap” and “falling behind”), the paper highlights the importance of policies in determining the future development path of the Central Asian economies. The findings show that if these economies embrace policy reform, regional cooperation, and industrial competitiveness, then economic prosperity will continue to be enhanced.
Citation
Dowling, Malcolm; Wignaraja, Ganeshan. 2006. Central Asia's Economy: Mapping Future Prospects to 2015. © Asian Development Bank. http://hdl.handle.net/11540/1877. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Gas Development
Gas Market Development
Oil and Gas Industry
Natural Gas Industry
Gas Industry
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Gas Reserve
Gas Distribution
Oil and Gas Leases
Natural Gas
Communication in rural development
Communication in community development
Economic development projects
Development banks
Economic forecasting
Environmental auditing
Cumulative effects assessment
Human rights and globalization
Gasoline
Natural gas supply
Offshore oil and gas leases
Gas leases
Natural gas reserves
Fertilizers and manures
Gasoline pump industry
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