DOES THE ECONOMIC OPENNESS PROMOTE THE FIVE CENTRAL ASIAN COUNTRIES’ ECONOMIC DEVELOPMENT? ? THE ANALYSIS BASED ON THE DATA OF 1992-2011Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 25)
Publication Date: 2015-03-25
Authors : Shisong Zhu; Zhuo Zhang;
Page : 141-148
Keywords : Economic openness; The five Central Asian countries; Economic development;
All of the five Central Asian countries have carried out the policy of economic reform and openness for more than 20 years, but it did get quite different results in the five coutries. Then, what is exactly the role of economic openness in economic developping? As for this, it is useful to make systematic comparative study of the five Central Asian countries on this issue, which can also provide theoretical and practical reference to the five Central Asian countries’ further openness in economic. And in this paper, based on the 1992-2011 statistics, we have made the comparative studies about the effect of the economic openness in the five Central Asian countries. The facts have told us that: there is a big difference about the relationships between economic openness and economic growth in the five Central Asian countrys. For example, economic openness has a strong role in promoting the economic growth in Kyrgyzstan while it does have a very strong role in inhibiting the economic growth in Tajikistan; Besides, FDI is the main driving force to promote economic growth in Uzbekistan and Turkmenistan. However, the foreign trading and FDI have little impact on the Kazakhstan's economic growth.
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