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Economic Development in Central Asia

Institutional Underpinnings of Factor Markets


Joachim Ahrens and Herman W. Hoen

This book investigates the institutional underpinnings of the relatively strong economic performance in Central Asian countries since their independence. The New Institutional Economics as well as Political Economy approaches provide the conceptual framework for case studies. All contributions consider factor markets and institutions as fundamental drivers of economic growth. This volume scrutinizes the evolution, design, and performance of factor markets in the region including land and natural resources, labor, physical and human capital.
Contents: Joachim Ahrens/Herman W. Hoen: Institutional Change and Performance of Production Factor Markets in Central Asia – Christian Danne: Commitment Devices, Opportunity Windows, and Institution Building in Central Asia – Saule Sagandykova: The Effects of Foreign Direct Investment on Wages in Kazakhstan – Abdul Ghaffar Mughal: Migration and Remittance Flows within and from Selected Countries of Central Asia and the South Caucasus – Munira Aminova/Marc Jegers: Are Hofstede’s National Cultures Homogeneous? The Case of Uzbekistan – Kamiljon T. Akramov/Nurbek Omuraliev: Institutional Change and Agricultural Performance in Kyrgyzstan – Olav Heidelbach/Raushan Bokusheva: Factors Determining Crop Insurance Market Development in a Transition Economy: The Case of Kazakhstan.