Economic Development Strategies of Major Central Asian Countries and Their Implications for Korea

5 Pages Posted: 19 Dec 2017

See all articles by Joungho Park

Joungho Park

Korea Institute for International Economic Policy

Boogyun Kang

Korea Institute for International Economic Policy

Jiyoung Min

Korea Institute for International Economic Policy

Ka Woen Gwun

Korea Institute for International Economic Policy

ChiHyun Yun

Korea Institute for International Economic Policy

Date Written: December 18, 2017

Abstract

Amid global economic uncertainties arising from prolonged oil prices, China’s economic slowdown, and increased protectionist US trade policies, the Central Asian governments are developing and pursuing individual economic development strategies which reflect their own socio-economic characteristics and key policy goals. Central Asia’s three resource-rich countries, Kazakhstan, Uzbekistan and Turkmenistan, have several common obstacles threatening further economic growth: inadequate transportation and logistics networks due to land-locked locations, high dependency on primary commodity exports, among others. Thus their economic development strategies aim to pro-mote economic diversification for sustainable growth. The purpose of this study is to focus on Kazakhstan, Uzbekistan and Turkmenistan, analyzing the new economic development strategies of these countries, and to discover opportunities and demand for economic cooperation.

Keywords: Economic Development Strategies, Major Central Asian Countries, Resource-rich countries, Economic Cooperation

Suggested Citation

Park, Joungho and Kang, Boogyun and Min, Jiyoung and Gwun, Ka Woen and Yun, ChiHyun, Economic Development Strategies of Major Central Asian Countries and Their Implications for Korea (December 18, 2017). KIEP Research Paper, World Economy Brief 17-25. Available at SSRN: https://ssrn.com/abstract=3089482 or http://dx.doi.org/10.2139/ssrn.3089482

Joungho Park (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Boogyun Kang

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jiyoung Min

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Ka Woen Gwun

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

ChiHyun Yun

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

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