Abstract
Improving human welfare is a critical global concern, but not always easy to achieve. Complications in this regard have been faced by the states of the Former Soviet Union, where socialist-style economic institutions have disappeared, and the transition to a market economy has been slow in coming. Lack of capital, ethnic conflict, and political instability have at times undermined the institutional reform that would be necessary to enable economic efficiency and development. Nowhere are such challenges more pronounced than in the new nation states of central Asia, including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Here, a severe climate limits agriculture, and industrialization has been inhibited by lack of infrastructure, low levels of human capital, and a scarcity of financial resources. These conditions are aggravated by the fact that the central Asian states are landlocked, far from centers of market demand and capital availability. Despite these daunting barriers, development potential does exist, and the goal of the paper is to consider central Asia's pastoral economy, with a focus on Kazakhstan, which stands poised to become a regional growth pole. The article pursues its goal as follows. It firs...Continue Reading
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