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Theoretical Foundations and Policy Analysis

The rapid disintegration of the Soviet Union has fostered a host of interesting questions, not least the best means of transforming stagnant socialist economic systems into vibrant market economies. This has meant that the transition economies of the former Soviet bloc have formed the subject of intensive economic research over the past twenty years. However, Uzbekistan remains one of the least-studied areas within this literature. In particular, very little work has been focused on financial sector reform in Uzbekistan. The urgent need to remedy this unfortunate neglect has been the major motivation for this book. This book represents the first comprehensive analysis of financial sector reform in post-communist Uzbekistan. It considers the design, scope, pace and sequencing of financial reforms by constructing a comprehensive picture of financial sector transformation in Uzbekistan. Past policy failures are identified and policy recommendations for future reform are advanced. Academics, business executives and policy practitioners involved in the transition economies will find the book an invaluable resource on financial sector development in Uzbekistan.