ECONOMIC PERFORMANCE OF KAZAKHSTAN AND UZBEKISTAN SINCE INDEPENDENCE: IMPACTS OF SELECTED ECONOMIC POLICIES AND INSTITUTIONS

Abstract

The article deals with factors that affect countries’ economic performance. It undertakes a comparative analysis of two transitional cases, Kazakhstan and Uzbekistan, which share common culture and region. Since countries became independent Kazakhstan has shown superior economic performance and growth compared to Uzbekistan. In this paper, I argue that the main determinants of the differences in economic growth between countries are differences in economic policies and economic institutions. Because of different economic and political constraints in early years of independence, governments chose different strategies to economic transition.