The Sequencing and speed of Reforms in Transition Economies: Implications for the Case of Uzbekistan
June 27, 2025
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Uzbekistan has made significant progress in its transition to a market economy since 2017, achieving advancements in macroeconomic stabilization, trade and exchange rate liberalization, price liberalization, and small-scale privatization. Despite these successes, challenges remain in reforming and privatizing large state-owned enterprises and banks and fostering a competitive market environment with easy market entry and exit. Future reforms should focus on entrenching macroeconomic stability, completing trade and price liberalization, hardening budget constraints for state-owned enterprises and banks, enhancing their corporate governance, accelerating privatization, and redefining the state's role to support private sector development.
Subject: Competition, Economic sectors, Financial markets, International trade, Privatization, Public enterprises, Trade liberalization
Keywords: Baltics, Central Asia, Competition, Eastern Europe, EBRD infrastructure reform indicator, Europe, Global, Pace of Economic Reforms, price liberalization, Privatization, Public enterprises, Sequencing of Economic Reforms, small-scale privatization, Trade liberalization, Transition Economics, transition economy, transition reform experience, Uzbekistan
Pages:
22
Volume:
2025
DOI:
Issue:
086
Series:
Selected Issues Paper No. 2025/086
Stock No:
SIPEA2025086
ISBN:
9798229015295
ISSN:
2958-7875
