What explains Uzbekistan’s unusually mild “transformational recession” and its moderate recovery during 1996-97? We … resources, and public investment policies—and sectoral output developments. The main findings are (i) Uzbekistan’s relatively …; (iii) the mildness of Uzbekistan’s transitional recession can be accounted for by its favorable initial production …

Since independence in 1991, Uzbekistan has pursued a gradual approach to the transition from planned to market economy …

After the break-up of the Soviet Union, Uzbekistan’s output fell less than in any other former Soviet Republic, and … underpredicts Uzbek growth from 1992-1996, confirming the view that Uzbekistan’s performance consitutes a puzzle. It then attempts … to resolve the puzzle by appropriately extending the model. The main result is that Uzbekistan’s output performance was …

, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional …

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple … minimum, Uzbekistan would benefit from moving to an explicit fiscal regime …

tap into the pool of both public and private long-term savings in order to channel the latter into much needed …

China's high national savings rate-one of the highest in the world-is at the heart of its external/internal imbalances …. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad …. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one …