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

Mazhikeyev, Arman and Edwards, Huw and Rizov, Marian (2015) Openness and isolation: the trade performance of the former Soviet Central Asian countries. International Business Review . ISSN 0969-5931 (Accepted/In press)

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Abstract

Previous studies characterize some of the Former Soviet Central Asian countries (CACs) as “more open” (Kazakhstan, Kyrgyzstan) and others as “more isolated” (Tajikistan, Turkmenistan and Uzbekistan) depending on their trade-over-GDP ratio. Being an open or isolationist economy has resulted respectively in more or less suitable environment for business and investment. We investigate the drivers of CACs trade performance by measuring contributions of country-specific properties and networking factors in 185 bilateral CACs trade flows over the period 1995-2011. We find that, even though all CACs’ trade has increased greatly since 1995, for the more open economies (Kazakhstan and Kyrgyzstan) trade changes are mainly explained by networking (bilateral) factors while for isolationist economies (Turkmenistan, Uzbekistan and Tajikistan) changes in trade are mostly explained by country-specific properties.

Item Type: Article
Additional Information: Available online 26 March 2015
Keywords (uncontrolled): Central Asia, FSU, gravity models, Russia, trade performance, transition
Research Areas: A. > Business School > Economics
Item ID: 15781
Notes on copyright: Access to full text restricted pending copyright check.
Depositing User: Marian Rizov
Date Deposited: 06 May 2015 13:34
Last Modified: 13 Oct 2016 14:33
URI: http://eprints.mdx.ac.uk/id/eprint/15781

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