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Openness and isolation: The trade performance of the former Soviet Central Asian countries

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posted on 03.06.2016 by Arman Mazikeyev, Huw Edwards, Marian Rizov
Previous studies divide the former Soviet Central Asian countries (CACs) into ‘‘more open’’ (Kazakhstan, Kyrgyzstan) and ‘‘more isolationist’’ (Tajikistan, Turkmenistan and Uzbekistan) depending on their trade-to-GDP ratio. We investigate this by gravity analysis measuring contributions of country-specific properties and networking factors in 185 bilateral CACs trade flows over the period 1995–2011. Our findings suggest that while all CACs have experienced growing trade over the period, they show considerable variety in initial conditions and transition reforms. The more solationist countries have mostly relied on fortuitous factors such as hikes in natural resource prices to boost their trade, whereas the more open, reform-minded states have achieved considerable trade growth through reducing trade costs. Being an open or isolationist economy has resulted, respectively, in more or less suitable environment for business and investment.

History

School

  • Business and Economics

Department

  • Economics

Published in

International Business Review

Volume

26

Issue

6

Pages

935 - 947 (13)

Citation

MAZIKEYEV, A., EDWARDS, T.H. and RIZOV, M., 2015. Openness and isolation: The trade performance of the former Soviet Central Asian countries. International Business Review, 24(6), pp. 935-947.

Publisher

© The Authors. Published by Elsevier

Version

VoR (Version of Record)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution 4.0 International (CC BY 4.0) licence. Full details of this licence are available at: http://creativecommons.org/licenses/ by/4.0/

Acceptance date

03/08/2015

Publication date

2015

Notes

This is an Open Access Article. It is published by Elsevier under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/

ISSN

1873-6149

Language

en

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