What explains Uzbekistan’s unusually mild “transformational recession” and its moderate recovery during 1996-97? We … resources, and public investment policies—and sectoral output developments. The main findings are (i) Uzbekistan’s relatively …; (iii) the mildness of Uzbekistan’s transitional recession can be accounted for by its favorable initial production …

Since independence in 1991, Uzbekistan has pursued a gradual approach to the transition from planned to market economy …

After the break-up of the Soviet Union, Uzbekistan’s output fell less than in any other former Soviet Republic, and … underpredicts Uzbek growth from 1992-1996, confirming the view that Uzbekistan’s performance consitutes a puzzle. It then attempts … to resolve the puzzle by appropriately extending the model. The main result is that Uzbekistan’s output performance was …

, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional …

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple … minimum, Uzbekistan would benefit from moving to an explicit fiscal regime …