External factors of economic growth in the transition: economies of the Baltics and Central Asia

In the context of increasing interrelatedness of economies, foreign trade and capital flows may prove crucial when considering their growth perspectives. This assertion is corroborated by contrasting growth experiences of the Baltic and Central Asian transition economies, which have undergone significant transformations in terms of their economic structure and trade patterns since the early 1990s. Currently observed variations in growth rates both across and within the regions in question provide a rationale for comparing these economies in terms of economic growth dynamics and foreign trade along with investment performance. This dissertation inquires into the role external factors play in the process of economic growth in the transition economies of the Baltics (Estonia, Latvia and Lithuania) and Central Asia (Kazakhstan, the Kyrgyz Republic and Uzbekistan). To provide a proper answer to the above question, the economies are compared in terms of their growth constituents' contributing shares. These are defined empirically through employment of the 'balance of payments constrained growth' model with its basic and extended versions. Deriving from empirically obtained results, it may be inferred that higher growth rates observed in the Baltic economies - compared to those in the Central Asian economies - in the period from 1994 to 2005 are due to larger values of a compound of exports growth, capital inflows and relative price developments. Growth differences within the regions concerned are explained in a similar manner.

Level thesis:degree_level

thesis.doctoral

Grantor dc:publisher

Universität Oldenburg

Year

2007

Author dc:creator

• Madumarov, Eldar

• [Keine Schlagwörter von Autor/in vergeben.]

Repository record source_url

http://oops.uni-oldenburg.de/743

OAI identifier oai:identifier

oai:oops.uni-oldenburg.de:743