Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/72915
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Type: Journal article
Title: Resource management and transition in Central Asia, Azerbaijan and Mongolia
Author: Pomfret, R.
Citation: Journal of Asian Economics, 2012; 23(2):146-156
Publisher: Elsevier BV, North-Holland
Issue Date: 2012
ISSN: 1049-0078
Statement of
Responsibility: 
Richard Pomfret
Abstract: The paper presents a comparative analysis of the resource-rich transition economies of Mongolia and the southern republics of the former Soviet Union. For Uzbekistan and Turkmenistan, the ability to earn revenue from cotton exports allowed them to avoid reform. Oil in Azerbaijan and Kazakhstan was associated with large-scale corruption, but with soaring revenues in the 2000s their institutions evolved and to some extent improved. Kyrgyzstan and Mongolia illustrate the challenges facing small economies with large potential mineral resources, with the former suffering from competition for rents among the elite and the latter from lost opportunities. Overall the countries illustrate that a resource curse is not inevitable among transition economies, but a series of hurdles need to be surmounted to benefit from resource abundance. Neither the similar initial institutions nor those created in the 1990s are immutable.
Keywords: Oil; Gas; Minerals; Central Asia; Resource Curse
Rights: © 2011 Elsevier Inc. All rights reserved.
RMID: 0020117407
DOI: 10.1016/j.asieco.2011.08.004
Appears in Collections:Economics publications

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