Departmental Papers

The Caucasus and Central Asia: Transitioning to Emerging Markets

April 10, 2014

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The Caucasus and Central Asia: Transitioning to Emerging Markets, (USA: International Monetary Fund, 2014) accessed September 20, 2024

Also available in: русский

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

The countries in the Caucasus and Central Asia (CCA) have recorded significant macroeconomic achievements since independence. These countries have grown more rapidly-—on average by 7 percent over 1996–2011—-than those in many other regions of the world and poverty has declined. Inflation has come down sharply from high rates in the 1990s and interest rates have fallen. Financial sectors have deepened somewhat, as evidenced by higher deposits and lending. Fiscal policies were broadly successful in building buffers prior to the global crisis and those buffers were used effectively by many CCA countries to support growth and protect the most vulnerable as the crisis washed across the region. CCA oil and gas exporters have achieved significant improvements in living standards with the use of their energy wealth.

Subject: Economic sectors, Emerging and frontier financial markets, Financial markets, Financial sector, Fiscal policy, Infrastructure, International organization, National accounts, Political economy, Revenue administration

Keywords: Banking sector, CCA country, CCA financial systems, CCA fiscal policy, CCA growth experience, CCA IMF country team recommendation, Central Asia, Central Asia and the Caucasus, Countries of the Caucasus and Central Asia, East Asia, Eastern Europe, Emerging and frontier financial markets, Emerging market, Emerging market vision, Exchange rate, Financial sector, Financial system, Global, Infrastructure, Monetary policy, Natural resource, Transmission mechanism

Publication Details

  • Pages:

    87

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Departmental Paper No. 2014/003

  • Stock No:

    TCCTEMEA

  • ISBN:

    9781484305140

  • ISSN:

    2616-5333

Notes

Full text also available in Russian

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